Sunway REIT third-quarter profit takes a dip

Good business: The exterior of Sunway Pyramid Mall. Sunway REIT says the financial performance of the retail segment during the quarter was primarily contributed by a higher turnover rent at Sunway Pyramid Mall.

PETALING JAYA: Sunway Real Estate Investment Trust (SUNREIT) posted a net profit of RM68.9mil for the third quarter ended March 31, down from RM70.4mil, dragged down by income tax expenses.

During the quarter in review, revenue rose 7.1% year-on-year (y-o-y) to RM151.5mil, driven primarily by a firmer financial performance from the retail and office segments.