New properties lift Axis REIT Q1 income 

KUALA LUMPUR (Bernama): Axis Real Estate Investment Trust net profit rose to RM31.96 million in the first quarter ended March 31, 2021 (1Q21) from RM29.28 million in the same period a year ago.

Revenue grew to RM57.48 million from RM54.77 million previously.

In a filing with Bursa Malaysia today, Axis-REIT said property income was up 0.2 per cent to RM57.69 million from RM57.56 million in 4Q20 mainly due to contributions from newly acquired properties, which was partly offset by rental loss from the expiry of tenancy of D8 Logistics Warehouse since end-October 2020.

For prospects, the company said it remained cautious of the current COVID-19 pandemic whic