IOI Properties reports net profit of RM125.7mil in 2Q22

IOI Properties chief executive officer Datuk Voon Tin Yow

KUALA LUMPUR: IOI Properties Group Bhd's net profit slipped to RM125.72 million in the second quarter ended Dec 31, 2021 (Q2 FY2022) from RM170.98 million in the same period last year after taking a fair value loss of RM98.4 million attributed to IOI Mall in Xiamen, China.

In a statement with Bursa Malaysia today, the property developer said revenue however expanded to RM704.83 million from RM591.34 million, backed by the improved financial performance across all its business segments in property development, property investment, and hospitality and leisure.