Al-Hadharah – BT

Al-Hadharah REIT posts higher pre-tax profit

Al-Hadharah Boustead REIT recorded a higher profit after tax of RM21 million for its first quarter ended March 31, 2012,
compared with the previous RM20 million.

Revenue also improved to RM24.2 million compared with RM22.2 million previously, driven by higher fixed rental income.

In a statement today, Chairman Tan Sri Lodin Wok Kamaruddin said the increased contribution from fixed rental income was due to the additional plantation assets that were acquired last year.

"We are confident of holding steady our earnings for the next three quarters. "Given the REIT's unique positioning of being the only local Islamic plantation REIT, coupled with improving market conditions and steady demand for commodities, we believe our unitholders will benefit from their investment," he said. — Bernama