Axis-REIT optimistic of maintaining its current performance for FY24

PETALING JAYA: Axis Real Estate Investment Trust (Axis-REIT) remains positive about the outlook of its current financial year, buoyed by its existing asset portfolio.

In a filing with Bursa Malaysia, the company said it is optimistic, going forward, in view of the satisfactory performance of its existing property portfolio and growth strategy to actively pursue quality investments.

In light of this, Axis-REIT said it will be able to maintain its current performance for the financial year ending Dec 31, 2024.

For its first quarter ended March 31, 2024, Axis-REIT’s net profit rose to RM42.27mil from RM30.30mil in the previous corresponding quarter, while revenue in the first quarter improved to RM75.54mil from RM70.17mil a year earlier.

Basic earnings per share stood at 2.42 sen compared to 1.74 previously.

Axis-REIT said it has proposed to distribute 99% from realised income available for distribution generated from operations for the first quarter of 2024.

“The total net asset value stood at RM2.83bil and the net asset value per unit (before the 2024 first interim income distribution) was RM1.6174.

“Axis-REIT has further set aside RM40.19mil (approximately 99% of total income available for distribution in respect of the period from Jan 1, 2024 to March 31, 2024) as the 2024 first interim income distribution, which translates to 2.30 sen per unit payable on May 31, 2024.

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Axis-REIT , income , property


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