Pavilion-REIT prudent despite earnings growth

Quick Summary:

Pavilion Real Estate Investment Trust (Pavilion-REIT) will focus on continuously refining its tenant mix and elevating marketing efforts, after revising its retail sales growth for the second quarter of the year (2Q24) downwards to 3.6% year-on-year (y-o-y).

However, compared with the preceding quarter, net profit dropped 19.3% from RM83.2mil, led by a 7.9% decrease in turnover from RM218.5mil.

Year-to-date, Pavilion-REIT also saw a 13% y-o-y rise in net earnings to RM150.3mil, supported by a one-third growth in revenue to RM419.8mil.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaBruneiChinaIndonesiaSingaporeThailand

Topics: /Business/Business News TenantMix RetailSales NetProfit Corporate News DividendIncrease RevenueGrowth DomesticTourism PavilionREIT

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-18 @ 00:00:00 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 461 words

Reading Time: 3 minutes read

Sentences: 14 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 21667528

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