KIP REIT's reported its full year and fourth quarter results, with revenue for the current quarter coming in higher at 33.0% higher than the immediate preceding quarter ended 31 March 2024. Fourth quarter revenue was RM32 million compared to RM22 million recorded in the same period last year.
For the full year, KIP REIT recorded a revenue of RM102 million against RM83 million recorded in the year before, PAT however was lower at RM47 million compared to RM60.7 million reported in 2023.
The manager said it holds a favorable outlook based on existing property portfolio and their strategic endeavors to actively enhance leasing and operational strategies while pursuing investments of high quality. As a result, the manager anticipates the ability to sustain a stable performance throughout fiscal year 2024.
KIP said it will continue to manage the existing portfolio and exercise prudent capital management in order to deliver sustainable DPU to Unitholders. The Manager will also continue to evaluate growth opportunities in its existing and new asset classes of retail and industrial assets.