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Property News

Axis REIT 3Q NPI inches up to RM62 mil, declares 2.15 sen income distribution

KUALA LUMPUR (Oct 27): Axis Real Estate Investment Trust’s (Axis REIT) net property income (NPI) for the third quarter ended Sept 30, 2023 (3QFY2023) increased marginally by 0.67% to RM61.9 million compared with RM61.49 million, on the back of higher property income.
Quarterly revenue edged slightly higher by 0.14% higher to RM71.81 million from RM71.71 million, its Bursa Malaysia filing showed on Friday.
Axis REIT also declared a third interim income distribution of 2.15 sen per unit, payable on Dec 15.
For the nine-month period ended on Sept 30 (9M2023), Axis REIT’s NPI declined by 2.1% to RM179.27 million from RM183.12 million while revenue fell by 0.23% to RM210.44 million from RM210.91 million.
On a quarterly basis, the group’s NPI came in 6.3% higher from RM57.66 million recorded in the immediate preceding quarter (2QFY2023) while revenue increased by 4.91% from RM68.45 million in 2QFY2023.
Moving forward, Axis REIT highlighted it is optimistic that it will be able to maintain its current performance and it will continue to pursue quality investments in the future.
Shares in Axis REIT closed one sen or 0.56% higher to RM1.80, giving it a market capitalisation of RM3.13 billion.
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Source: EdgeProp.my

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