KUALA LUMPUR: KLCC Stapled Group, comprising KLCC Real Estate Investment Trust’s (REIT) and KLCC Property Holdings Bhd (KLCCP), recorded a higher net profit of RM191.06 million for the second quarter (2Q) ended June 30, 2024, compared to RM180.80 million a year earlier.
The retail property investment segment saw an 11.1 per cent rise in pre-tax profit to RM108.0 million, thanks to upward rental revisions and improved occupancy, the group said.
Revenue rose to RM413.24 million from RM394.63 million in the same quarter last year, it said in a filing with Bursa Malaysia today.
KLCC Stapled Group said the group’s results reflect the acquisition of the remaining stake in Suria KLCC Sdn Bhd, with a 5.7 per cent increase in profit attributable to equity holders to RM191.1 million during the quarter.
Suria KLCC became the group’s wholly owned subsidiary on April 23, 2024.
"The performance in all segments were commendable, especially the retail and hotel segments,” it said.
For the first half ended June 30, 2024, the group posted a larger net profit of RM379.09 million compared to RM361.36 million in the same period last year, while revenue went up to RM822.15 million from RM775.38 million previously.
The group declared a 9.2 sen dividend distribution per stapled security during 2Q 2024, up from 9.8 sen in the same quarter last year. This brings the total dividend for 2024 to 18.2 sen compared to 17.3 sen a year earlier. - Bernama
