AEON announced that the Company continues growth momentum for the first quarter of the financial year 2023, registering a revenue of RM1,106.8 million. It recorded 10.5% growth compared to the corresponding quarter of RM1,001.8 million.
The Company also registered a profit before tax (PBT) of RM62.1 million for the quarter, marking a 13.3% increase from the corresponding quarter’s PBT of RM54.8 million. The growth is mainly contributed by increase in revenue and optimisation in gross margin.
In the retail business segment, AEON achieved a revenue of RM941.4 million, demonstrating a strong growth of 9.8% compared to the corresponding quarter’s revenue of RM857.4 million. The notable increase in revenue can be attributed to higher festivities spending and the normalisation of business activities during the current quarter.
Furthermore, the property management services segment also grew by 14.5% posting revenue of RM165.4 million compared to the corresponding quarter’s revenue of RM144.4 million. This growth was driven by an improved occupancy rate, aligned with positive consumer sentiment as part of the Company’s ongoing business normalisation.
Throughout the years, AEON has successfully repositioned and simplified its portfolio, implementing clear and strong customer segmentation strategies to enhance customer experiences. The Company remains steadfast in its commitment to fulfilling customer needs while also striving to create meaningful and rewarding experiences that cultivate long-term loyalty and trust.
AEON Managing Director Keiji Ono said, “While the reopening of international borders and gradual increase in international travelling are expected to further spur the local economy, we acknowledge the presence of inflationary pressures, compounded by softer domestic consumer sentiments. Nonetheless, the Company remains committed to leveraging its ecosystem by collaborating with tenant partners, suppliers, and AEON group of companies to optimise consumer spending and enhance the value of our assets.”
Looking ahead, AEON is dedicated to enhancing its product assortments, particularly in fresh food and private labels, to drive stronger sales. Additionally, the Company is focused on developing the AEON Living Zone, as part of their mall and store revamp initiatives, by accelerating their digital integration and sustainability efforts, including the installation of solar photovoltaic (PV) systems and implementing effective waste management practices.
In its 38th Annual General Meeting (AGM) held yesterday, the shareholders have approved the distribution of a final dividend of 4 sen per ordinary share for the year ended 31 Dec 2022. The total amount payable of RM56.2 million would represent a payout ratio of 50.5% of our profit for the year.
