Kuala Lumpur, 24 November 2023 – AEON CO. (M) BHD. (AEON or the Company) recorded a Profit After Tax (PAT) of RM13.8 million for the quarter (Q3 FY2023), an increase of 27% compared to the same quarter last year (Q3 FY2022), which recorded RM10.9 million.

AEON’s property management services segment generated a revenue of RM166.0 million for the current quarter, marking a 6.5% increase compared to the corresponding quarter’s RM155.8 million. The growth was supported by improved occupancy rates and effective rental renewals.

Retail business segment reported revenue of RM789.9 million, reflecting a 4.4% decrease compared to the corresponding quarter’s RM826.2 million. The decline was primarily attributed to the temporary partial closure of two of our stores, namely AEON Melaka and AEON Mall Cheras Selatan for renovation during the quarter.

Overall, the Company registered a total revenue of RM3,095.7 million for the current period, representing a 0.5% increase compared to the previous year’s corresponding period of RM3,079.3 million. Meanwhile, PAT moderated 4.8% to RM82.2 million mainly due to higher operating cost.

Keiji Ono, Managing Director of AEON said, “Our accelerated business expansion plans and innovative new retail model strategy have contributed positively to our business. Building upon this, AEON is actively venturing into untapped markets by adapting to diverse customer needs through various formats.” he said.

“Our ongoing initiative to revitalise existing malls, aimed at elevating customer comfort and convenience achieved new milestones with the recent full reopening of AEON Melaka Shopping Centre, where we saw both sales and customers footfall doubled compared to the same period last year. This mall offers an array of new and exciting food and beverages alongside refreshed dine-ins facilities. We are also excited to announce the imminent reopening of AEON Mall Cheras Selatan in Q4, strategically timed to leverage the festive season shopping. Additionally, AEON also plans to open its 35th store at Setia City Mall Shah Alam by Quarter 1 next year.” Ono remarked.

AEON is also expanding its customer base through various loyalty programmes, new product portfolio mix and entertainment offerings. Meanwhile AEON’s commitment to green initiatives continues with 30,000 trees planted, as well as the installation of solar panels in five AEON Malls by the end of 2023 to fortify its commitment to sustainable practices.

Looking ahead, AEON remains unwavering in its commitment to expedite its digital transformation, create exclusive brands that resonate with a wide range of customer preferences, establish AEON Living Zone within local communities, and implement sustainability initiatives while efficiently managing operational expenses. These endeavours exemplify AEON’s dedication towards long-term growth and innovation within the evolving retail landscape.

“AEON continues to place customers at the heart of its business and remains committed to add value to its customers. While we acknowledge the challenges posed by global tensions and the ongoing economic pressures, we remain optimistic about our prospects for FY2023.” Ono concluded.

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