Hektar REIT sees lower Q1 profit

The portfolio’s average occupancy at the end of the quarter stood at 91.3%.

PETALING JAYA: Hektar REIT’s net profit for the first quarter ended March 31 dropped 20.62% to RM7.08mil on the back of a 7.9% drop in revenue to RM30.71mil, as it was impacted by the movement control order (MCO) to contain the Covid-19 pandemic.

Earnings per share reduced to 1.53 sen from 1.93 sen previously. Hektar REIT has decided not to declare a first interim distribution per unit in the current quarter.