PETALING JAYA: UOA Real Estate Investment Trust’s revenue for its second quarter ended June 30, increased 4.6% to RM23.15mil from RM22.13mil a year ago.
Net profit for the quarter was up by 2.7% to RM11.85mil from RM11.54mil a year earlier.
It has announced a dividend of 2.69 sen, bringing the total dividends announced for the financial year to 5.32 sen.
For the first half of the financial year ending Dec 31, 2015, topline was 4% higher at RM45.94mil year-on-year.
Earnings rose marginally to RM23.94mil from RM23.71mil.
“Against the six months ended June 30, 2014, gross rental has improved by 4% due to a revision in rental rates and steady occupancy rates of the investment properties,” it said.
However, higher operating and borrowing costs had offset the higher rental revenue.
Realised income before tax and distributable income was RM11.98mil.
“Taking into consideration a 95% distribution, the trust has set aside RM11.39mil as provision for distribution,” it added.
In a separate announcement, it said its public spread as at June 30, 2015 was 23.36%, which did not fully comply with Bursa Malaysia’s requirement.
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