Retail mall operator, AEON CO. recorded a Profit After Tax (PAT) of RM13.8 million for the quarter (Q3 FY2023), an increase of 27% compared to the same quarter last year (Q3 FY2022), which recorded RM10.9 million.
The property management services segment generated a revenue of RM166 million for the current quarter, marking a 6.5% increase compared to the corresponding quarter’s RM155.8 million. The growth was supported by improved occupancy rates and effective rental renewals.
Meanwhile, the retail business segment reported revenue of RM789.9 million, reflecting a 4.4% decrease compared to the corresponding quarter’s RM826.2 million. The decline it said was primarily attributed to the temporary partial closure of two of our stores, namely AEON Melaka and AEON Mall Cheras Selatan for renovation during the quarter.
Overall, the Company registered a total revenue of RM3,095.7 million for the current period, representing a 0.5% increase compared to the previous year’s corresponding period of RM3,079.3 million. Meanwhile, PAT moderated by 4.8% to RM82.2 million mainly due to higher operating costs.
Keiji Ono, Managing Director of AEON said, “Our accelerated business expansion plans and innovative new retail model strategy have contributed positively to our business. Building upon this, AEON is actively venturing into untapped markets by adapting to diverse customer needs through various formats.” he said
