KLCCP'S FY2021 NET PROFIT RISES TO RM495.85 MLN

KUALA LUMPUR, Jan 28 -- KLCC Property Holdings Bhd’s Stapled Group (KLCCP) net profit rose to RM495.85 million in the financial year ended Dec 31, 2021 (FY2021) from RM432.17 million in FY2020.

Revenue, however, fell 5.5 per cent to RM1.17 billion from RM1.24 billion previously due to lower revenue recorded in property investment-retail and hotel operations segments, it said in a filing with Bursa Malaysia today.

For the fourth quarter (Q4FY2021), KLCCP turned into a net profit of RM70.33 million from a net loss of RM41.84 million in Q4FY2020 while revenue increased 14.3 per cent to RM348.17 million from RM304.71 million previously.

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It said Suria KLCC and the retail podium of Menara 3 Petronas which represented the retail segment saw a surge in revenue of 21.7 per cent to RM120 million while profit before tax (PBT) jumped 34.4 per cent to RM87.2 million driven by improved footfall and tenants sales coupled with higher advertising income.

KLCCP said in the hotel segment, Mandarin Oriental Kuala Lumpur saw encouraging improvement with the highest revenue for Q4FY2021 of RM23 million from RM9.7 million in Q4FY2020 driven by increased occupancy and improved food and beverage performance.

It said under the management service segment, revenue recorded an increase of 17.3 per cent mainly from additional services secured in facilities management and higher car park income in line with the reopening of economic activities.

On prospects, KLCCP said its business segments momentum is expected to continue the recovery, riding on the improved consumer confidence following the country’s high vaccination coverage and the ongoing efforts in the booster shot roll out.

-- BERNAMA