1 week Ago
PETALING JAYA: Axis Real Estate Investment Trust (Axis-REIT) remains optimistic that in view of the satisfactory performance of its existing property portfolio and its growth strategy to actively pursue quality investments, it will be able to maintain its positive performance for the coming financial year ending Dec 31, 2025. The investment manager released its whole year results for 2024 yesterday, registering a total trust income for the fourth quarter of financial year 2024 (4Q24) of RM87.8mil, a 16.
2% year-on-year (y-o-y) growth from a year earlier. Net profit, however, dipped 17.4% y-o-y to RM91mil.
For the whole of 2024, the investment manager saw total revenue increase to RM320.1mil, representing an 11.9% y-o-y climb, although net earnings saw a fractional 3.
6% slide to RM210mil. Axis-REIT declared a dividend of 2.37 sen per share for 4Q24, which brought its total dividends declared for 2024 to 9.
27 sen per share, a 7.2% y-o-y improvement from 2023..
