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KUALA LUMPUR: KLCC Property Holdings Bhd recorded net profit of RM67.77 million on the back of revenue of RM237.44 million for its third quarter ended December 31, 2010 (3Q 2011).
Comparatively, it recorded revenue and net profit of RM223.66 million and RM59.22 million a year ago, it said on Friday, Feb 25 in a Bursa announcement.
The improved financial result was attributed to the higher revenue achieved from hotel operations and better rentals attained for the retail mall. The improved office rentals in particular for Dayabumi added to the improved revenue, while efforts in managing cost have helped its bottom line.
The company’s earnings were underpinned by long term office tenancies and a strong and
sustainable retail sector. In addition, it has introduced several measures to increase
productivity, the benefits of which were reflected in the better results.
A satisfactory financial performance is expected for the remainder of the financial year. No dividend was declared for the financial period under review.
