KUALA LUMPUR: Aeon Co (M) Bhd’s net profit for the second quarter ended June 30, 2022 (Q2’22) rose to RM47.28 million from RM10.94 million posted in the same quarter last year.
Revenue increased 25.3% to RM1.10 billion from RM874.21 million previously.
In a filing with Bursa Malaysia today, the company said its retail business recorded revenue at RM938.3 million, 28% higher compared with the previous corresponding quarter’s RM733.0 million, attributable to festivities and economic reopening coupled with the opening of national borders.
For the property management services segment, revenue was 11.3% higher at RM157.2 million, compared with RM141.2 million in the previous corresponding quarter, contributed by higher sales commission and temporary space rental received in line with consumers returning to physical malls.
Aeon noted that in the endemic phase of Covid-19, activities among communities and consumer demands have increased.
It said global supply chain challenges, compounded by unprecedented environmental changes, continued to create inflationary pressures globally.
“To ensure sustainable operations and business performances, the company will actively manage the pricing and supply chain strategy in order to offer value in consumers’ spending and demand needs in light of ongoing inflation concerns.
“We will continue to accelerate and evolve our digital shift especially to grow the adoption of myaeon2go amongst our consumers, create an ‘Aeon Living Zone’ to integrate both online and offline shopping engagement experiences, advance the offering related to health and wellness, as well as to deepen customer engagement and experience via the Aeon loyalty programme and iAeon app,” Aeon said.
Moving forward, the company will continue to leverage its ecosystem, especially in partnering and collaborating with its tenant partners, suppliers and Aeon group of companies to unlock the value from customer demand and experience, and to mitigate supply chain risks. – Bernama