Shopping centre owner RioCan REIT reports Q1 profit up from year ago

Shopping centre owner RioCan REIT reports Q1 profit up from year ago

RioCan Real Estate Investment Trust says its first-quarter profit rose compared with a year ago as its revenue also climbed higher, helped by strong leasing results.

The shopping centre owner says it earned $128.6 million for the quarter ended March 31, up from $118.0 million in the same quarter last year.

Revenue for the quarter totalled $303.4 million, up from $279.5 million in the first quarter of 2023.