Axis-REIT Posts Higher 2Q Net Profit Of RM46.95 Mln
KUALA LUMPUR, July 30 (Bernama) -- Axis Real Estate Investment Trust (Axis-REIT) posted a higher net profit of RM46.95 million in the second quarter ended June 30, 2025 (2Q 2025), compared with RM38.95 million in the same period last year.
Revenue also increased to RM90.25 million in 2Q 2025 from RM76.53 million in the previous corresponding quarter.
In a Bursa Malaysia filing, Axis-REIT said that for the quarter under review, it recorded a total trust income of RM90.3 million, an 18.0 per cent increase compared to RM76.5 million in 2Q 2024, while net income rose by 20.5 per cent year-on-year to RM46.95 million, driven by higher property income.
Furthermore, the REIT said the disposal of its property in Petaling Jaya, The Annex, was completed on April 30, 2025, and resulted in a total net gain on disposal of RM8.82 million, which comprised the realisation of previous years' fair value gains.
'The manager has proposed to distribute 99 per cent from realised income available for distribution generated from operations for the second quarter of 2025.
'The total net asset value stood at RM3.34 billion and the net asset value per unit (before 2025 second interim income distribution) was RM1.6510,' it said.
For the first six months ended June 30, 2025, Axis-REIT's net profit improved by 18.3 per cent to RM96.08 million from RM81.22 million in the corresponding period last year while revenue increased by 18.4 per cent to RM180.12 million from RM152.07 million previously.
On prospects, Axis-REIT is optimistic that in view of the satisfactory performance of its existing property portfolio and growth strategy to actively pursue quality investments, it will be able to maintain its current performance for the financial year ending Dec 31, 2025.
-- BERNAMA
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