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.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Axis-REIT , income , property

   

Next In Business News

Malaysia-Japan trade set to rise this year - Tengku Zafrul
Global trading platform Webull expands to Malaysia
Maybank 1Q earnings up 9.8% on higher core fees
MPI set for strong show
Investors rush to grab piece of US$1.8 trillion UK pensions pie
Starwood’s US$10bil REIT turns to survival mode as pain lingers
Damned if you do, damned if you don’t
US stock changes affect Asia forex trades
Panda to capitalise on new opportunities including e-invoicing
Johor Group Plantations aims to go public in 3Q

Others Also Read