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- Quarterly earnings per unit rose to 2.44 sen, from 2.42 sen in 1QFY2024. The commercial and industrial REIT declared a dividend of 2.5 sen per unit, up from 2.3 sen last year.
KUALA LUMPUR (April 23): Axis Real Estate Investment Trust (Axis REIT) (KL:AXREIT) net income rose 16.2% to RM49.13 million in its first quarter ended March (1QFY2025) from RM42.27 million in 1QFY2024, as new acquisitions, tenancies and rental rates boosted its property income.
Quarterly earnings per unit rose to 2.44 sen, from 2.42 sen in 1QFY2024. The commercial and industrial REIT declared a dividend of 2.5 sen per unit, up from 2.3 sen last year.
Net property income rose 20.4% to RM78.24 million, from RM64.97 million. This is supported by rental contribution from newly acquired properties, new tenancies from Axis Mega Distribution Centre, and upward rental reversion from existing portfolio, it said.
Total trust income came in at RM89.87 million, up 18.97% from RM75.54 million, it added.
In the quarter, Axis REIT saw RM4.5 million spent to enhance its properties.
Total assets under management stood at RM5.21 billion across 69 properties, of which 58 had 100% occupancy, the REIT said.
Axis REIT units settled one sen lower at RM1.83, valuing it at RM3.7 billion.
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