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Wednesday, May 9, 2012

Al-Hadharah REIT posts higher profit

KUALA LUMPUR: Al-Hadharah Boustead REIT has recorded a higher profit after tax of RM21 million for its first quarter ended March 31 2012, from RM20 million posted previously.

Its revenue improved to RM24.2 million compared with RM22.2 million previously, driven by higher fixed rental income.

Chairman Tan Sri Lodin Wok Kamaruddin said in a statement yesterday that the increased contribution from fixed rental income was due to the additional plantation assets that were acquired last year.

"We are confident of holding steady our earnings for the next three quarters.

"Given its unique positioning of being the only local Islamic plantation REIT, coupled with improving market conditions and steady demand for commodities, we believe our unitholders will benefit from their investment," he said.

By Bernama

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