PETALING JAYA: KIP Real Estate Investment Trust (KIP-REIT) recorded revenue of RM48.8mil for the first quarter ended Sept 3, (1Q27), an increase of 19.6% year-on-year (y-o-y) from RM40.8mil.

The growth was supported by stronger performance across its KIPMalls and contributions from properties acquired as part of its portfolio expansion, it said in a statement.

Net property income (NPI) increased 17.6% y-o-y to RM35mil from RM29.7mil, reflecting the higher revenue generated by its retail and industrial assets.

Profit after tax remained broadly stable at RM17.3mil, while distributable income stood at RM17.6mil.

The retail segment remained the group’s largest contributor, accounting for 93.3% of total revenue. Retail revenue rose 17.5% y-o-y to RM45.5mil, while retail NPI increased 14.5% to RM31.7mil.

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