KUALA LUMPUR: KIP Real Estate Investment Trust (KIP Reit) recorded a marginal increase in net profit to RM17.25 million in the first quarter ended Sept 30, from RM17.24 million a year earlier.
Meanwhile, its revenue rose 19.6 per cent to RM48.75 million from RM40.76 million in the corresponding quarter last year, its Bursa Malaysia filing showed.
The trust attributed the increase to improved performance across its nine KIPMalls and contributions from newly acquired retail and industrial properties, as part of its portfolio expansion.
Net property income increased 17.6 per cent year-on-year to RM35 million from RM29.7 million, reflecting higher revenue from its retail and industrial assets.
By region, the central region recorded a 15.3 per cent increase in revenue to RM23.1 million, while the southern region grew 7.5 per cent to RM14.7 million.
Revenue from the northern region rose 33.9 per cent to RM6.6 million, while the east coast region contributed RM1.1 million, compared with RM0.1 million a year earlier.
Looking ahead, the trust said it remained optimistic about its performance in the financial year 2027, supported by the positive performance of its existing portfolio and efforts to enhance leasing and operational strategies while pursuing quality investments.
"As a result, the manager anticipates the ability to sustain a stable performance throughout fiscal year 2027.
"The manager will continue to manage the existing portfolio and exercise prudent capital management in order to deliver sustainable distribution per unit to unitholders," it said.
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