Atrium REIT posts higher Q4 net profit


Revenue for the quarter under review was 173.% higher year-on-year at RM9.64mil, mainly due to rental income from Atrium Bayan Lepas 1 (ABL1) which started in October 2020, as well as lower finance costs and administrative expenses..

PETALING JAYA: Atrium REIT has posted a net profit of RM5.85mil for its fourth quarter ended Dec 31,2020 compared with a RM3.1mil net loss a year ago.

Revenue for the quarter under review was 173.% higher year-on-year at RM9.64mil, mainly due to rental income from Atrium Bayan Lepas 1 (ABL1) which started in October 2020, as well as lower finance costs and administrative expenses.

For the full year, net profit jumped over 500% to RM21mil while revenue was 50% higher at RM34.4mil, mainly due to rental incomes from ABL1 and ABL2 which started in October 2020 and October 2019 respectively.

The industrial asset focused real estate investment trust declared a distribution per unit (DPU) of 3 sen to be payable on Feb 26,2021 (compared with 2.23 sen a year ago).

For the full year, DPU is 9 sen compared with 6.63 sen a year ago.

Atrium REIT also stated the occupancy rate for its portfolio of properties as at Dec 31,2020 was 100%.

“Barring any unforeseen circumstances, the trust’s portfolio of properties is expected to maintain 100% occupancy throughout the financial year 2021.”

Meanwhile, Pacific Trustees Bhd, the trustee of Atrium REIT, carried out the revaluation in November and December 2020, of the investment properties in Selangor and Penang.

As at Dec 31,2020, the net asset value per unit of Atrium REIT is RM1.27 after a revaluation surplus of RM2.9mil.

Atrium REIT’s closed unchanged at RM1.23 yesterday.

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Atrium REIT , property , Atrium , Bayan Lepas ,

   

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