UOA Real Estate Investment Trust (UOA REIT) posted a lower pre-tax profit of RM25.078 million in the financial year ended Dec 31, 2010, compared to RM58.009 million in 2009.

Revenue fell to RM42.805 million from RM44.636 million in the previous year, said UOA REIT in a filing to Bursa Malaysia today.

Despite a challenging year, the existing properties continue to enjoy an occupancy rate of at least 85 per cent.

With the improving economic conditions and outlook, the manager expects the occupancy and rental rates to further improve, it said. -- Bernama