AEON CONTINUES GROWTH MOMENTUM FOR 1Q FY2023, REGISTERING A REVENUE OF RM1.1 BILLION
Kuala Lumpur, 18 May 2023 – AEON CO. (M) BHD. (AEON or the Company) announces today that the Company continues growth momentum for the first quarter of the financial year 2023 (1Q FY2023), registering a revenue of RM1,106.8 million. It records 10.5% growth compared to corresponding quarter of RM1,001.8 million.
The Company also registered a profit before tax (PBT) of RM62.1 million for the quarter, marking a 13.3% increase from the corresponding quarter’s PBT of RM54.8 million. The growth is mainly contributed by increase in revenue and optimising in gross margin.
In the retail business segment, AEON achieved a revenue of RM941.4 million, demonstrating a strong growth of 9.8% compared to the corresponding quarter’s revenue of RM857.4 million. The notable increase in revenue can be attributed to higher festivities spending and the normalisation of business activities during the current quarter.
Furthermore, the property management services segment also grew by 14.5% posting revenue of RM165.4 million compared to the corresponding quarter’s revenue of RM144.4 million. This growth was driven by an improved occupancy rate, aligned with positive consumer sentiment as part of the Company’s ongoing business normalisation.
Throughout the years, AEON has successfully repositioned and simplified its portfolio, implementing clear and strong customer segmentation strategies to enhance customer experiences. The Company remains steadfast in its commitment to fulfilling customer needs while also striving to create meaningful and rewarding experiences that cultivate long-term loyalty and trust.
According to Keiji Ono, Managing Director of AEON, “As AEON enters year 2023, the Company remains committed to adding value to its customers, as they are at the heart of everything we do. We will continue our unwavering efforts to strengthen our core business while driving forward with our transformation initiatives. This year, digitalisation, innovation, and sustainability will continue to be the driving forces behind our pursuit of sustainable digital transformation.”
“While the reopening of international borders and gradual increase in international travelling are expected to further spur the local economy, we acknowledge the presence of inflationary pressures, compounded by softer domestic consumer sentiments. Nonetheless, the Company remains committed to leveraging its ecosystem by collaborating with tenant partners, suppliers, and AEON group of companies to optimise consumer spending and enhance the value of our assets.” Ono added.
Looking ahead, AEON is dedicated to enhancing its product assortments, particularly in fresh food and private labels, to drive stronger sales. Additionally, the Company is focused on developing the AEON Living Zone, as part of our mall and store revamp initiatives, by accelerating our digital integration and sustainability efforts, including the installation of solar photovoltaic (PV) systems and implementing effective waste management practices.
In its 38th Annual General Meeting (AGM) held yesterday, the shareholders have approved the distribution of a final dividend of 4 sen per ordinary share for the year ended 31 Dec 2022. The total amount payable of RM56.2 million would represent a payout ratio of 50.5% of our profit for the year.
AEON’s strong performance in 1Q FY2023 reflects its commitment to delivering value to customers and pursuing sustainable growth. The Company remains steadfast in its mission to be a leader in the retail industry by consistently providing exceptional products and services.