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Tuesday, August 14, 2012

KLCC Property posts net profit of RM91.6mil

KUALA LUMPUR: KLCC Property Holdings Bhd posted a net profit of RM91.6mil, or 9.81 sen per share for the second quarter ended June 30. Its revenue stood at RM288.6mil during the quarter.

For the six months ended June 30, KLCC Property posted a net profit of RM193.1mil on revenue of RM564.4mil.

On March 2, KLCC Property announced the change of financial year-end from March 31 to Dec 31 beginning from April 2011. As a result, there is no equivalent comparative quarter.

KLCC Property’s pre-tax profit of RM184.4mil achieved in the second quarter was up by RM2.5mil or 1.4% higher than the preceding quarter mainly due to improved operating profit. Its revenue of RM288.6mil for the second quarter increased by RM12.8mil when compared with the preceding quarter attributable mainly to the higher revenue from hotel, the Menara 3 Petronas office and improved revenue from retail segment (Suria KLCC and Menara 3 Petronas).

“The directors are of the view that the results for the remaining 2012 period will remain stable due to long-term office tenancies and expected improvement in retail occupancy. The hotel segment will continue to trade in a competitive environment,” it said in the notes accompanying its financial results.

By The Star

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