KUALA LUMPUR: KLCC Real Estate Investment Trust’s (REIT) pre-tax profit decreased to RM230.93 million for the first quarter ended March 31, 2015 from RM243.68 million registered in the same period last year.
Revenue also fell to RM326.89 million from RM340.88 million previously.
In a filing to Bursa Malaysia, it attributed the drop in profit to the lower contribution from its property investment for office and retail, hotel operations as well as management services.
On prospect, KLCC REIT expected its performance for the office and retail segments to remain stable this year, while the hotel segment would continue to tread in a challenging environment due to weak market demand and the scheduled renovation works at the hotel. -- BERNAMA