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Friday, January 13, 2012

UOA REIT FY11 pre-tax profit rises to RM41.9m

UOA Real Estate Investment Trust (UOA REIT) posted a higher pre-tax profit of RM41.87 million for the financial year ended Dec 31, 2011 compared with RM25.08 million in the same period last year.

In a circular to Bursa Malaysia, the company said its revenue jumped to RM79.74 million from RM42.81 million previously.

Going forward, the company said it would continue its efforts to further improve the occupancy rates of its property assets and anticipates the high
occupancy rates to sustain barring unforeseen circumstances.

"The manager will continue to adopt an active operating and capital management strategy to enhance the yields and returns of the existing

"The manager will also continue to seek opportunities to further acquire real estate that meets the objectives of the Trust," it added.

By Bernama

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