AEON Co Bhd. announced its current quarter results reporting an improved its performance registering Profit After Tax (PAT) of RM114.8 million, a 3.2% increase from RM111.2 million recorded in the preceding year. The company also recorded a higher PAT of RM32.6 million for the individual quarter (Q4 FY2023), an increase of 30.9% compared to the same corresponding quarter last year (Q4 FY2022) of RM24.9 million.
The group noted the retail business segment reporting a revenue of RM859 million, reflecting a 4.9% decrease compared to the corresponding quarter’s RM903.7 million. The decline it said was mainly due to high base effects during the corresponding quarter. Revenue from the property management services segment increased to RM174.3 million, 10.2% higher compared to the corresponding quarter of RM158.1 million. The growth was contributed by an improvement in occupancy rate and effective rental renewal.
In view of the performance, the AEON Board has proposed a final dividend of 4.0 sen per ordinary share for FY2023 (FY2022: 4.0 sen) which is equivalent to RM56.2million or 49% pay-out ratio, subject to the approval of the shareholders in the upcoming AGM in May 2024.
Keiji Ono, Managing Director of AEON said, “We are grateful for the year-end result which was made possible by the strong support from our AEON People, business partners and customers. Our growth in profit is a result of our commitment in capturing diverse customer values through our product portfolio mix, particularly our private brands as well as accelerating digital shift and implementing sustainability initiatives, while effectively managing operating costs.”
The success is supported by the performance of its property management services. AEON is actively expanding and enriching its presence within communities through the opening of new stores and rejuvenation projects for both stores and malls. In 2023, AEON successfully enhanced customer comfort and convenience with the rejuvenation of AEON Melaka Shopping Centre and AEON Mall Cheras Selatan. Following their reopening, both malls recorded notable increase in sales and customer count.
