Wednesday, November 16, 2011

Al-Hadharah Boustead REIT 3Q net profit up 33% to RM22.9m

KUALA LUMPUR (Nov 16): AL-HADHARAH BOUSTEAD REIT [] net profit for the third quarter ended Sept 30, 2011 rose 33% to RM22.9 million from RM17.17 million a year earlier, due to the injection of new PLANTATION [] assets namely TRP Estate, Sutera Estate and Trong Mill.

Revenue for the quarter rose to RM27.29 million from RM18.86 million in 2010.

Earnings per share was 3.65 sen compared to 3.08 sen in 2010, while net assets per share was RM1.42.

For the nine months ended Sept 30, Al-Hadharah Boustead REIT's net profit rose to RM66.91 million from RM49.76 million in 2010, on the back of revenue RM77.16 million.

In a statement Wednesday, Nov 16, Al-Hadharah Boustead REIT chairman Tan Sri Lodin Wok Kamaruddin said there was clearly a greater usage of palm oil particularly among established markets in Asia.

'The REIT is expected to benefit from this strong demand given that crude palm oil prices should remain within a favourable pricing range.

'With our strong dividend payout track record and the healthy movement of our unit price, we are confident investors will benefit from their investments in the REIT despite current capital market conditions,' he said.

No comments:

Post a Comment