Thinkproperty Blog

KUALA LUMPUR: Atrium Real Estate Investment Trust’s (REIT) net profit for the second quarter ended June 30, 2010, rose 152% to RM2.56 million from RM1.01 million a year earlier.

In a Bursa filing yesterday, the REIT said revenue increased 17.5% to RM3.55 million from RM3.02 million while basic earnings per share grew to 2.1 sen from 0.83 sen.

Compared to the preceding quarter, the REIT’s net profit had decreased slightly from RM2.62 million due to an increase in expenses. 

“The increase in expenses is due to an increase in finance costs, which was due to higher interest rate charged by financial institutions as a result of Bank Negara Malaysia increasing the benchmark overnight policy rate by a total of 75 basis points to date since March 2010,” it said.

For the first half ended June 30, Atrium REIT’s net profit rose 66.5% to RM5.19 million from RM3.08 million a year earlier.

A second income distribution of 2.15 sen per unit has been declared for the second quarter, bringing total distribution for the half year to 4.25 sen per unit.  

Atrium REIT closed unchanged at 95.5 sen yesterday.

Source
http://www.theedgemalaysia.com/in-the-financial-daily/170440-atrium-reits-2q-net-profit-up-152-pays-out-215-sen.html