KUALA LUMPUR, May 15 (Bernama) -- AEON Co (M) Bhd’s net profit for the first quarter of 2024 (1Q 2024) rose 51 per cent to RM57.39 million from RM38.18 million registered in 1Q 2023.
Revenue increased to RM1.17 billion from RM1.11 billion previously, with its retail business and property management services segments recording revenue growth.
In a statement today, the company said its retail business segment achieved a revenue of RM980.5 million in 1Q 2024, a 4.2 per cent increase year-on-year (y-o-y) from 1Q 2023’s revenue of RM941.4 million, largely due to festive spending during the quarter, particularly in the food and clothing categories.
Its property management services segment reported a revenue increase of 13 per cent y-o-y to RM186.9 million in 1Q 2024 from RM165.4 million in 1Q 2023, driven by improved occupancy rates and effective rental renewals.
AEON said that its occupancy rate stood at 93.6 per cent as of March 2024, underpinned by successful mall rejuvenation projects and store facelifts.
Managing director Naoya Okada highlighted the company's dedication to prioritising customers amidst a challenging operating environment marked by cautious consumer spending.
“As we celebrate our 40th anniversary in Malaysia this year, customers can expect a variety of product assortments, promotional deals, and in-mall events to enhance their shopping experience," he said.
Looking ahead, AEON outlined several projects in its pipeline, including ongoing renovations at AEON Bandar Puchong, AEON Bukit Indah, AEON Tebrau City, and AEON Ipoh Station 18.
In terms of sustainability, the company said it has committed to creating a greener environment through various green initiatives, including the installation of solar photovoltaic (PV) systems at its malls.
To date, 10 malls have been equipped with solar panels, with three already generating solar energy to supplement electricity consumption.
The company also plans to accelerate its digital transformation, expand its private brand offerings to meet diverse customer preferences and strengthen its sustainability initiatives while focusing on cost management and community engagement.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
