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CMMT 1Q profit up 10%

KUALA LUMPUR (April 19): Capitamalls Malaysia Trust's (CMMT) first quarter net profit rose 10% from a year earlier as the retail-based Real Estate Investment Trust (REIT) registered higher revenue following the inclusion of the East Coast Mall in Kuantan to the group's portfolio.

In a statement to the exchange on Thursday, CMMT said net profit came to RM34.44 million against RM31.44 million previously, while revenue was up 36% to RM71.4 million from RM52.68 million.

Its portfolio includes Sungei Wang Plaza and The Mines in the Klang Valley, besides Penang's Gurney Plaza. The property trust plans to reward shareholders with a dividend of 2.09 sen a unit during the quarter.

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