KUALA LUMPUR: Starhill Real Estate Investment Trust (Starhill REIT) registered lower net profit for its second quarter ended Dec 31, 2009 (2QFY2010) of RM18.3 million, from RM20.1 million the previous year.

Its revenue for 2QFY2010 has also dropped, standing at RM26 million from RM27.2 million a year earlier. The lower performance was mainly due to the longer rent-free period required to prepare for the commencement of new tenancies at Lot 10 as part of its on-going rebranding and repositioning exercise.

Its basic earnings per share for the quarter dipped to 1.55 sen, from 1.71 sen the previous year. It also declared a dividend of 3.29 sen per share, of which 2.54 sen is taxable and 0.7429 sen is non-taxable in the hands of unitholders.