PETALING JAYA: KLCC Property Holdings Bhd’s (KLCCP) net profit for its third quarter ended Sept 30, 2016 grew 19% to RM178.23mil from RM149.80mil in the previous corresponding period, mainly due to better earnings from its office investment and management services divisions.
In a filing with Bursa Malaysia yesterday, the company said revenue during the quarter slipped to RM329.54mil from RM337.19mil a year earlier.
For the nine-months period ended Sept 30, 2016, KLCCP’s net profit increased to RM538.84mil from RM508.17mil in the previous corresponding period, while revenue rose to RM998.86mil from RM993.09mil previously.
On its prospects for the remainder of its current financial year, KLCCP said its directors expect the performance of the office segment to remain stable until the end of the year.
“Despite the slight drop in occupancy due to tenant remixing and market challenges, the retail segment performance is expected to remain stable. The hotel segment will continue to experience difficult trading conditions for the rest of the year.”
KLCCP also announced a third interim dividend of 2.94 sen per ordinary share for its financial year ending Dec 31, 2016 will be paid on Dec 14, 2016 to the holders of stapled securities whose names appear in the Record of Depositors of the company on Nov 18, 2016.
KLCCP is part of the KLCCP Stapled Group, which is also part of KLCC Reit.
KLCC Reit meanwhile saw its net profit in its third quarter ended Sept 30, 2016 increase to RM178.23mil from RM149.80mil in the corresponding period, while revenue dipped to RM329.54mil from RM337.19mil in the previous corresponding period.
For the nine-months ended Sept 30, 2016, the company’s net profit grew to RM538.84mil from RM508.17mil in the corresponding period, while revenue rose to RM998.86mil from RM993.09mil previously.
