Axis – thestar

Axis-REIT Q3 net profit down

Axis Real Estate Investment Trust has posted a lower net profit of RM16.8mil for the third quarter ending Sept 30, against RM24.3mil in the previous corresponding period, while revenue for the period was higher at RM29.2mil versus RM22.4mil.

In a filing with Bursa Malaysia it said that there was an unrealised change in fair value of investment properties of RM11.7mil for the period last year which contributed to a higher net profit compared with its third-quarter result this year.