IOI Prop posts jump in first quarter earnings

IOI City Mall is part of a mixed development at the edge of Putrajaya that includes office towers and Le Meridien Hotel. - Filepic

KUALA LUMPUR: IOI Properties Group Bhd (IOI Prop) posted a 28.1% jump in earnings to RM242.85mil for the first quarter ended Sept 30, 2017, on higher profits in all its main business segments.

All three of its main business segments – property development, property investment, and leisure and hospitality – recorded improved operating profits although total revenue slipped 3.3% to RM869.98mil.