Pavilion-REIT earnings up on retail recovery

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Pavilion-REIT announced in a filing with Bursa Malaysia a net profit of RM54.98mil in the second quarter ended June 30, 2022, more than double its earnings in the same quarter last year, as it sees a resurgence of rental revenue and advertising following the reopening of the economy.

KUALA LUMPUR: Pavilion Real Estate Investment Trust’s (Pavilion-REIT) earnings is tracking better conditions in the retail industry as economic conditions improve and movement restrictions continue to ease.

Pavilion-REIT announced in a filing with Bursa Malaysia a net profit of RM54.98mil in the second quarter ended June 30, 2022, more than double its earnings in the same quarter last year, as it sees a resurgence of rental revenue and advertising following the reopening of the economy.

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Total revenue for the quarter was RM141.49mil, a 13.39% increase over the previous corresponding quarter, with higher contribution from all its retail properties except for the Intermark Mall.


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