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

Al-Hadharah REIT earnings rise

Al-Hadharah Boustead REIT achieved a 50% increase in net profit for the second quarter ended June 30 attributable to a hike in fixed rental income and the doubling of performance-based profit sharing.

Net profit for the quarter came in at RM24mil compared with RM16mil in the same period a year ago.

The Islamic plantation real estate investment trust (REIT) recorded a net profit of RM44mil in the six-month period ended June 30 on the back of a revenue of RM50mil.

In the corresponding period last year, it posted RM33mil net profit on the back of RM37mil revenue.

The fund will make an income distribution of 4 sen to unitholders next month. Al-Hadharah REIT’s net asset value as at June 30 stood at RM1.43 per unit.

Al-Hadharah Boustead REIT Q4 profit at RM32mil

Al-Hadharah Boustead REIT saw its fourth-quarter net profit increased 9.3% to RM32.3mil from a year ago due to recognition of fair value gains on investment properties of RM14.3mil.

The the real estate investment trust (Reit) told Bursa Malaysia yesterday that its revenue grew 4% to RM19.85mil for the quarter ended December 31.

Chairman Tan Sri Lodin Wok Kamaruddin said in a statement that the trust’s financial performance would improve further, moving forward, with the injection of two new estates.

“These estates are being acquired for RM189.2mil, which will be settled through cash payments and funded from proceeds of the proposed placement of 75 million new units and a syariah-compliant financing facility,” he said.

For its fiscal year ended December 31, the trust posted a net profit of RM82.08mil against last year’s RM83.17mil while revenue was up 6% to RM75.02mil from a year ago.

It also declared a final dividend of 6.2 sen, bringing the total dividend for the year to 10 sen.

In a separate filing with Bursa, Sunway REIT said it posted a net profit of RM45.2mil on a revenue of RM85.3mil for its second quarter ended December 31. Its realised distributable income is 1.75 sen per unit for the three-month period.

It said it was confident of achieving the profit forecast and income distribution for the fiscal year ending June 30, 2011 as disclosed in its prospectus.

This is despite expectation of a slight softening in the economy, with private sector consumption remaining robust this year.