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- Axis REIT's net income rose to RM46.95 million for 2QFY2025, up from RM38.96 million a year earlier, a bourse filing showed.
KUALA LUMPUR (July 30): Axis Real Estate Investment Trust (KL:AXREIT) said it plans to distribute the net gain on disposal of The Annex of RM8.8 million to unitholders over three quarters.
This makes up to 0.43 sen per unit, which will be distributed for the second quarter ended June 30, 2025 (2QFY2025) (0.14 sen), 3QFY2025 (0.14 sen) and 4QFY2025 (0.15 sen), the REIT said in a statement.
The trust has declared a 2QFY2025 total dividend of 2.65 sen per unit, up from 2.25 sen in the same quarter last year, as it posted a 20.5% year-on-year rise in net income, which does not include the disposal gains.
Axis REIT's net income rose to RM46.95 million for 2QFY2025, up from RM38.96 million a year earlier, a bourse filing showed.
The improvement was driven by contributions from newly acquired assets, fresh tenancies and upward rental revisions across its portfolio.
Earnings per unit rose to 2.32 sen from 2.23 sen in 2QFY2024. Following the 2Q dividend, the REIT's year-to-date payout rose to 5.15 sen per share, from 4.55 sen in the prior year.
As at end-June, total assets under management stood at RM5.21 billion across 68 properties, with full occupancy at 57 properties and an overall year-to-date occupancy rate of 97%.
Ongoing acquisitions include a storage yard in Bukit Raja for RM38.8 million, sited near its three Axis Facility properties. Total estimated value of acquisition targets remained unchanged at RM430 million, including logistics, manufacturing and industrial facilities.
Total trust income for 2QFY2025 rose 17.9% to RM90.25 million from RM76.53 million.
During the quarter, Axis REIT incurred RM1.88 million in capital expenditure for property enhancements and RM6.6 million for the extension of a leasehold tenure.
For the first half ended June 30, 2025, net income rose 20.2% to RM157.33 million from RM130.92 million, while total revenue increased 18.3% to RM96.08 million from RM81.22 million.
Looking ahead, the trust manager expressed optimism that Axis REIT would be able to sustain its performance for FY2025, supported by the stable performance of its existing portfolio and its ongoing strategy to pursue quality investments.
Axis REIT’s units ended at RM1.97 during Wednesday’s close, giving the trust a market capitalisation of RM3.98 billion.
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