Amanah Harta Tanah PNB REIT's Q3 net profit jumps 77%

PETALING JAYA: Amanah Harta Tanah PNB real estate investment trust (REIT) saw a 77% jump in net profit for the third quarter ended Sept 30, 2017 on rental income from newly acquired Mydin Seremban 2.
The REIT made a net profit of RM2.43 million for the quarter compared with RM1.37 million for the corresponding quarter last year. This came on the back of a 71% increase in revenue to RM7.1 million, compared with RM4.15 million for the same quarter in 2016.
Net profit for the nine-month period ended Sept 30, 2017 more than doubled to RM8.4 million, compared with RM3.6 million for the same period in 2016. The performance was almost double the revenue for the period of RM22.3 million, compared with RM11.86 million for the same period in 2016.
Amanah Harta Tanah PNB REIT’s stock was up half a sen to 28.5 sen today with some 366,000 shares changing hands.