KLCCP posts slightly improved results for 2Q

KUALA LUMPUR (Aug 13): KLCC Property Holdings Bhd (KLCCP) reported a profit before taxation of RM184.4 million for the second quarter (2Q) up to end-June 2012, a rise of RM2.5 million or 1.4% compared to the preceding quarter due to improved operating profit.

In a filing to Bursa Malaysia on Monday, the property group said its group revenue for the quarter stood at RM288.6 million, which was an increase of RM12.8 million compared to the preceding quarter. This was due mainly to higher revenue from hotel, the Menara 3 Petronas office and improved revenue from retail segment (Suria KLCC and Menara 3 Petronas).

An interim dividend of four (4) sen per share in respect of the reported quarter, payable on Sept 12, was declared.

KLCCP said results for the remaining 2012 period "will remain stable" due to long term office tenancies and expected improvement in retail occupancy. And the hotel segment will continue to trade in a competitive environment.