KUALA LUMPUR: MRCB-Quill REIT's earnings rose 11.5% to RM69.91mil in the financial year ended Dec 31, 2017 mainly due to higher property and interest income.
The real estate investment trust said on Friday the earnings had increased from RM62.77mil in FY16. Revenue rose at a stronger pace of 32.8% to RM181.50mil from RM136.65mil.
It achieved a realised net income of RM88.01mil, an increase of 48.8% compared to the RM59.16mil in FY16.
In the fourth quarter ended Dec 31, 2017, its earnings fell to RM3.32mil from RM16.92mil a year ago.
It achieved a realised net income of RM21.42mil, up 61% from RM13.30mil a year ago.
“The higher realised net income for this quarter was attributable to the recognition of income from Menara Shell, net of higher property operating expenses, finance costs, trustee’s fee and manager's fee,” it said.
However, its revenue increased by 18.3% to RM46.05mil from RM38.93mil. Earnings per share were 2.01 sen compared with 1.89 sen.
It declared an interim dividend of 4.16 sen, a slight increase from 4.15 sen.
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