Hektar REIT posts lower pre-tax profit

KUALA LUMPUR: Hektar Real Estate Investment Trust (Hektar REIT) posted a lower pre-tax profit of RM9.94 million, for the first
quarter ended March 31, 2011, from RM10.04 million recorded in the same quarter last year.

Revenue rose 1.4 per cent to RM23.34 million, against RM23.02 million registered previously, because of improved rentals and car park income, it said in a filing to Bursa Malaysia on May 11.Hektar declared a first quarter dividend per unit of 2.50 sen.

"Our first quarter results outlines the stability and defensive nature of Hektar REIT's portfolio," said Hektar Asset Management Sdn Bhd Chief Executive Officer Datuk Jaafar Abdul Hamid.

Hektar REIT's portfolio included Subang Parade (Subang Jaya), Mahkota Parade (Melaka) and Wetex Parade (Muar).- Bernama

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