AEON CO. (M) BHD. (AEON or the Company) announces today that the Company continues growth momentum for the first quarter of the financial year 2022 (1Q FY2022), registering a Profit After Tax (PAT) of RM28.1 million. It records 27.7% growth compared to corresponding quarter of RM22.0 million, which is attributed to improved retail margin and disciplined cost management.
Revenue from the property management services segment stands at RM144.4 million, higher by 7.4% compared to corresponding quarter of RM134.5 million. The uptrend comes on the heels of improved sales commission and temporary space rental received in line with customers’ sentiment in returning to physical malls.
Underpinning the overall performance was strong customer activities with effective implementation of marketing communication programmes throughout the quarter resulting in higher footfall at AEON outlets, driving improved sales. The initiatives were carried out under strict implementation of Standards of Procedures (SOPs) in providing the best service standards and peace of mind to the customers for a pleasant shopping experience in a clean and safe environment.
Shafie Shamsuddin, Managing Director/Chief Executive Officer of AEON said, “In this dynamic business environment, we remain steadfast and synergistically deliver a sustained financial performance for the quarter under review from January to March 2022. We are grateful for it which was made possible through the full cooperation of AEON ecosystem from AEON People to suppliers, business and tenant partners, related agencies and ministries, with our customers at the central core.”
“AEON continuously strives to add value of our services to the customers as they are always at the heart of everything that we do. We launched #AEONHargaJamin campaign in December last year that was valid until February 2022. Under the said campaign, we gave protection and price guarantee against inflation to more than 500 essential items which included 45% of the sought-after daily necessities by customers each time they shop at AEON. We will be launching another inflation campaign together with our tenant partners this coming June to address the concerns of the consumers.’’
“We are making positive progress towards our sustainability journey with one of the key highlights is the implementation of minimum wage increase from RM1,200 to RM1,500 per month effective 1 January 2022, ahead of the recommended timeline by the Government. This reflects AEON’s responsibility in prioritising the employees’ welfare as part of our commitment to sustainability,” concluded Shafie.
Moving forward, AEON endeavours to further grow the New Retail business model that is demand-based and more attuned to the present market dynamics, customer consumption patterns and behaviours. Digitalisation, innovation and sustainability are game changers for AEON as the Company propels into sustainable digital transformation journey which have produced tangible results in its online platform, myAEON2go. AEON will further enhance the adeptness of online platform among its customers and will boost the effort to seamlessly adopt Online-Merge-Offline (OMO) strategy.