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Article: AmFirst REIT posts bigger H1 revenue

Article from:
New Straits Times
Article date:
November 6, 2008
Author:
Copyright

Sharen Kaur
New Straits Times
11-06-2008
AmFirst REIT posts bigger H1 revenue
Byline: Sharen Kaur
Edition: Main/Lifestyle
Section: Business Times
Type: Company

AMFIRST Real Estate Investment Trust (AmFIRST REIT), the country's oldest property trust, saw a 63 per cent increase in revenue to RM45.4 million for the first half ended September 30 2008.

Net profit surged by 50 per cent to RM29.8 million from RM19.82 million a year ago.
The growth was attributed mainly by profit from its newly- acquired units at The Summit Subang USJ, which started to contribute from April 1.

There was also organic growth from positive rental reversion from tenancy renewals and tenant replacement, its manager Am ARA ...

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