Al-Hadharah Boustead Real Estate Investment Trust (REIT) posted an unaudited pre-tax profit of RM22.90 million for the third quarter ended Sept 30, 2011, a 33 per cent increase from RM17.17 million in the same quarter in 2010. Revenue was at RM27.30 million, up from RM18.86 million previously.
In a statement to Bursa Malaysia, the Fund said it recorded a higher revenue of RM77.16 million for the nine-month period, up from RM55.17 million in the same period in 2010.
"Additional rental from the newly acquired Taiping Rubber Plantation and Sutera Estates contributed to the increase in fixed rental income to RM49.1 million from RM43.6 million in 2010.
"Performance-based profit sharing meanwhile was more than double at RM28.1 million from last year's RM11.6 million," it said.
As a result, profit after tax grew 34 per cent to RM66.9 million from last year's RM49.8 million, it added. -- Bernama
In a statement to Bursa Malaysia, the Fund said it recorded a higher revenue of RM77.16 million for the nine-month period, up from RM55.17 million in the same period in 2010.
"Additional rental from the newly acquired Taiping Rubber Plantation and Sutera Estates contributed to the increase in fixed rental income to RM49.1 million from RM43.6 million in 2010.
"Performance-based profit sharing meanwhile was more than double at RM28.1 million from last year's RM11.6 million," it said.
As a result, profit after tax grew 34 per cent to RM66.9 million from last year's RM49.8 million, it added. -- Bernama
