Axis-REIT 3Q18 net profit dips 8.66%

by TMR

Axis Real Estate Investment Trust’s (REIT) net profit for the third quarter ended Sept 30, 2018 (3Q18) dipped 8.66% year-on-year (YoY) to RM29.74 million.

In an exchange filing yesterday, Axis REIT noted its realised net income from operations was RM29.27 million after deducting total expenditure of RM23.08 million, of which RM6.79 million were attributable to property expenses and RM16.28 million to non-property expenses.

The REIT manager has proposed to distribute 99.2% of realised income for distribution. Revenue for the quarter increased 24.64% YoY to RM52.35 million.