Stanley Motta posts higher rental income and profit in first quarter

Stanley Motta says it delivered a strong first-quarter result, helped by increased rental earnings and better operating performance. The real estate company also recorded a rise in net profit and stronger profit margins.

For the three months ended March 31, rental income climbed 45 per cent to $237 million when compared with the corresponding period last year. The company said the increase was supported by higher occupancy and more rental activity across its properties.

Administrative expenses were also reduced by 12 per cent to $49.6 million, which Stanley Motta linked to continued cost controls and improved efficiency in its operations.

The company said the quarter's performance also reflected ongoing investment and construction work tied to its 10-storey commercial building project, along with further strengthening of its property portfolio.