KUALA LUMPUR: KLCCP Stapled Group, comprising KLCC Property Holdings Bhd and KLCC Reit, recorded a higher net profit of RM180.56 million in the first quarter ended March 31, 2023, compared to RM161.44 million in the previous corresponding quarter, reflecting continued growth and recovery across all business segments.
Revenue increased by 18.3 per cent to RM380.74 million from RM321.71 million previously.
In a filing with Bursa Malaysia today, the group said its retail segment registered higher revenue of RM129.8 million, an increase of 17 per cent, supported by better tenant sales and improved customer counts at the mall.
"This was partially offset by higher electricity costs as a result of the hike in Imbalance Cost Pass-Through (ICPT) charges announced in January 2023. Nonetheless, overall profit before tax improved by 25 per cent to RM99.7 million during the quarter under review,” it said.
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