Hektar REIT profit falls

Posted on | February 5, 2009

By BUSINESS TIMES

HEKTAR Real Estate Investment Trust said its fourth quarter net profit fell by about 37 per cent due to higher borrowing costs and a slower rise in the value of its properties.

It made a net profit of RM32.6 million for the quarter to December 31 last year versus RM52 million in the same quarter a year ago.

Revenue rose 22 per cent to RM22.3 million.

For the full year, net profit was RM60.4 million versus RM80.5 million in 2007. Revenue rose 8 per cent to RM84 million.

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