AEON continues its growth momentum for the first quarter of the financial year 2022 (1Q FY2022), registering a Profit After Tax of RM28.1 million. It records 27.7% growth compared to the corresponding quarter of RM22 million, which is attributed to improved retail margin and disciplined cost management.
Revenue from the property management services segment stands at RM144.4 million, higher by 7.4% compared to the previous quarter of RM134.5 million. The uptrend comes on the heels of improved sales commission and temporary space rental received in line with customers’ sentiment in returning to physical malls. Underpinning the overall performance was strong customer activities with effective implementation of marketing communication programmes throughout the quarter resulting in higher footfall at AEON outlets, driving improved sales.
Shafie Shamsuddin, Managing Director/Chief Executive Officer of AEON said, “In this dynamic business environment, we remain steadfast and synergistically deliver a sustained financial performance for the quarter under review from January to March”
The retailer will be launching another inflation campaign together with its tenant partners this coming June to address the concerns of the consumers.’ “We are making positive progress towards our sustainability journey with one of the key
highlights is the implementation of minimum wage increase from RM1,200 to RM1,500 per month effective 1 January 2022, ahead of the recommended timeline by the Government. This reflects AEON’s responsibility in prioritising the employees’ welfare as part of our commitment to sustainability,” concluded Shafie
Moving forward, AEON endeavours to further grow the New Retail business model that is demand-based and more attuned to the present market dynamics, customer consumption patterns and behaviours. Digitalisation, innovation and sustainability are game-changers for AEON as the Company propels into a sustainable digital transformation journey which has produced tangible results in its online platform.
