AEON sustains growth in retail, property segments

JAYA: AEON Co (M) Bhd’s top line and bottom line sustained growth into the third quarter of its financial year 2022 (3Q22), on better performance from both its retail business and property management services.

AEON’S revenue rose by almost 31% year-on-year (y-o-y) to Rm982.01mil in 3Q22, with 84% contributed by its retail business and the remaining 16% from its property management services segment.

AEON’S retail segment’s revenue of Rm826.2mil in the quarter grew by 30.5% y-o-y on the reopening of the economy and national borders.

Its property management services segment’s 3Q22 revenue of Rm155.8mil was up 32.4% y-o-y on higher sales commission and temporary space rental received in line with consumers’ sentiment in returning to physical malls.

For 3Q22, AEON reported a net profit of Rm10.97mil against a net loss of Rm18.67mil in 3Q21 when there was the movement control order that began in June 2021.

“We are very pleased that we are able to uphold and strengthen our core value which is the satisfaction of our customers,” managing director Keiji Ono said in a statement.

“We always look forward to gearing up all our initiatives to meet the growing demands in the current retail sector,” he added.

AEON will continue to progress towards its sustainability journey as it believes sustainable business will protect the environment, nurtures employees and uplift communities and ecosystem.