May 5, 2011 - PropertyGuru.com.mySunway Real Estate Investment Trust (Sunway REIT) has posted a revenue of RM82.3 million and a pre-tax profit of RM43.7 million for the third quarter ended 31 March, 2011.
The company also said it recorded a pre-tax profit of RM43.7 million and a gross revenue of RM240.1 million for the quarter.
Meanwhile, a pre-tax income of RM399.6 million, which comprises a realised net income of RM126.2 million and an unrealised income of RM273.4 million, was attributed to the fair value adjustment on investment properties.
The trust said retail properties will be able to enjoy another year of robust performance, underpinned by growth in the number of visitors, a double-digit increase in rental reversions and continued growth in consumer spending.
The Sunway Pyramid Shopping Mall saw an increase in the amount of visitors by 2.3 percent in the nine-month period ended 31 March. “Occupancy remained strong with Sunway Pyramid Shopping Mall at 99 percent, Sunway Carnival Shopping Mall at 92 percent and SunCity Ipoh Hypermarket at 100 percent,” it said.
Sunway REIT’s hotels also achieved above-average daily rates for the nine-month period, compared to the previous year.
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May 2011 Property News
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