Pavilion-REIT’s FY22 net profit surges

PETALING JAYA: Pavilion Real Estate Investment Trust (Pavilion-REIT) is optimistic that retail sales will normalise this year.

In a filing with Bursa Malaysia, the company said it will continue to elevate its retail mix and encourage shopper interaction with targeted campaigns.

For its fourth quarter ended Dec 31, 2022, Pavilion-REIT’s net profit surged to RM216.42mil from RM53.57mil a year earlier, while revenue improved to RM145.80mil from RM124.28mil a year earlier.

Basic earnings per share rose to 7.09 sen from 1.76 sen previously.

For the financial year ended Dec 31, 2022, Pavilion-REIT’s net profit grew to RM397.80mil from RM125.24mil a year earlier, while revenue grew to RM569.69mil from RM488.59mil.