Sunway REIT quarterly net profit down on finance costs

PETALING JAYA: Sunway Real Estate Investment Trust (Sunway REIT) posted a net profit of RM73mil for the first quarter ended Sept 30, down 7.9% as compared with the corresponding period last year, mainly due to higher finance costs.

In a filing with Bursa Malaysia, Sunway REIT said net property income for the quarter was lower by 0.5% compared with the same quarter last year, despite a 1.8% higher gross revenue of RM2.5mil, mainly attributable to higher fit-out cost and maintenance expenses for the retail segment.