KUALA LUMPUR (Jan 20): Capitamalls Malaysia Trust (CMMT) earnings rose 60.4% to RM45.11 million in the fourth quarter ended Dec 31, 2011 from RM28.11 million a year ago.
It said on Friday revenue increased by23.2% to RM63.14 million from RM51.25 million. Its earnings per share were 2.75 sen compared with 2.08 sen.
CMMT said the higher revenue was due to the acquisitions of the Gurney Plaza Extension on March 28, 2011 and East Coast Mall, on Nov 14, 2011, which collectively accounted for RM9.4 million increase in gross revenue for the current quarter.
The other malls accounted for another RM2.5 million increase in gross revenue as a result of higher rental rates achieved from new and renewed leases.
As for property operating expenses in 4Q11, there was a 23.2% increase or RM3.6 million to RM19.4 million over 4Q10.
Overall, distributable income to unitholders for 4Q 2011 was RM32.8 million which was RM8.0 million or 32.3% higher compared to 4Q 2010.
For the financial year ended Dec 31, 2011, its earnings increased by 64.3% to RM179.81 million from RM109.39 million in FY10. Its revenue recorded a 144% increase to RM230.88 million from RM94.63 million.
It said on Friday revenue increased by23.2% to RM63.14 million from RM51.25 million. Its earnings per share were 2.75 sen compared with 2.08 sen.
CMMT said the higher revenue was due to the acquisitions of the Gurney Plaza Extension on March 28, 2011 and East Coast Mall, on Nov 14, 2011, which collectively accounted for RM9.4 million increase in gross revenue for the current quarter.
The other malls accounted for another RM2.5 million increase in gross revenue as a result of higher rental rates achieved from new and renewed leases.
As for property operating expenses in 4Q11, there was a 23.2% increase or RM3.6 million to RM19.4 million over 4Q10.
Overall, distributable income to unitholders for 4Q 2011 was RM32.8 million which was RM8.0 million or 32.3% higher compared to 4Q 2010.
For the financial year ended Dec 31, 2011, its earnings increased by 64.3% to RM179.81 million from RM109.39 million in FY10. Its revenue recorded a 144% increase to RM230.88 million from RM94.63 million.
