Axis REIT posts lower 3Q property income, declares 2.35 sen payout
Net profit increased 5.1% as an unrealised derivatives gain offset weaker property performance.
Axis Real Estate Investment Trust reported third-quarter net property income of RM77.99 million, down 2.8% year-on-year, and declared a distribution of 2.35 sen per unit. Its Bursa Malaysia filing attributed the property income decline to weaker income and higher operating costs.
Revenue for the quarter ended Sept 30, 2026 fell 2.1%, reaching RM90.78 million against RM92.77 million a year earlier. Net property income in the corresponding quarter was RM80.23 million.
Net profit nevertheless reached RM54.8 million, a 5.1% increase from RM52.12 million. The main support came from an unrealised derivatives valuation gain of RM6.38 million, against a RM118,000 loss in 3QFY2025.
The third interim payout compares with 2.65 sen per unit a year earlier. Payment is scheduled for Nov 30, with entitlement based on the register as at Nov 13.
Across the first nine months of FY2026, net property income was RM231.31 million, a decline of 2.6% from RM237.57 million. Revenue decreased 1% to RM270.13 million, compared with RM272.89 million. Unrealised derivatives gains helped lift net profit by 4.1% to RM154.3 million from RM148.2 million.
Distributions for those nine months amounted to 7.15 sen per unit, versus 7.80 sen a year earlier.
Axis REIT completed two purchases during the quarter: Axis Distribution Centre 1 @ Saujana Putra for RM128 million and Axis Industrial Facility 3 @ Shah Alam for RM38 million. Its portfolio consequently stood at 72 properties at end-September, up from 70.
Pending acquisitions include an industrial complex in Kedah priced at RM113 million, a warehouse in Port Klang costing RM80 million and an industrial facility in Senai, Johor, valued at RM34.61 million.
