Thursday, 3 May 2012

Quill 1Q profit up 5% on higher rental, lower operating cost

KUALA LUMPUR (May 3) : QUILL CAPITA TRUST [], a commercial and industrial-based real estate investment trust says first quarter net profit rose 5% from a year earlier, helped by higher revenue and lower operating expenses.

In a statement to the exchange, Quill said net profit came to RM8.07 million in the quarter to March 31, 2012 from RM7.68 million previously while revenue was up 2% to RM17.78 million from RM17.51 million.

The property trust said revenue had increased due to higher rentals for its PROPERTIES []. Looking ahead, Quill which has nine properties under its portfolio, said it plans to acquire more properties to grow its income.

The company said this comes against expectations of weaker commercial property prices due to fresh office space supply in the market.

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