KUALA LUMPUR (Jan 17): Starhill Real Estate Investment Trust (Starhill REIT) net profit for the second quarter ended Dec 31, 2011 surged to RM51.62 million from RM13.53 million, due mainly to higher revenue and gain on disposal.
Revenue for the quarter increased to RM 16.69 million from RM6.69 million in 2010. Earnings per unit was 3.90 sen compared to 1.15 sen a year earlier.
It declared an income distribution of 4.01sen per unit (of which 0.92 sen is taxable and 3.09 sen is non-taxable in the hands of unitholders) in respect of the six months ended Dec 31, 2011.
For the six months ended Dec 31, Starhill REIT’s net profit jumped to RM67.05 million from RM28.96 million in 2010, while revenue rose to RM24.68 million from RM14.94 million.
Reviewing its performance, Starhill REIT said the increase in revenue and profit during the quarter was due to recognition of lease rental income from the lease of the hospitality related PROPERTIES []; a gain on disposal of convertible preferred units (CPUs) as a result of the transfer of 155.56 million CPUs; and unrealised foreign exchange gain.
On its prospects, Starhill REIT said it was optimistic of achieving a satisfactory performance for the financial year ending June 30, 2012.
Revenue for the quarter increased to RM 16.69 million from RM6.69 million in 2010. Earnings per unit was 3.90 sen compared to 1.15 sen a year earlier.
It declared an income distribution of 4.01sen per unit (of which 0.92 sen is taxable and 3.09 sen is non-taxable in the hands of unitholders) in respect of the six months ended Dec 31, 2011.
For the six months ended Dec 31, Starhill REIT’s net profit jumped to RM67.05 million from RM28.96 million in 2010, while revenue rose to RM24.68 million from RM14.94 million.
Reviewing its performance, Starhill REIT said the increase in revenue and profit during the quarter was due to recognition of lease rental income from the lease of the hospitality related PROPERTIES []; a gain on disposal of convertible preferred units (CPUs) as a result of the transfer of 155.56 million CPUs; and unrealised foreign exchange gain.
On its prospects, Starhill REIT said it was optimistic of achieving a satisfactory performance for the financial year ending June 30, 2012.
