KLCC Property Holdings Bhd pre-tax profit declines in Q2

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KLCC Property Holdings Bhd pre-tax profit declines in Q2

KUALA LUMPUR, Aug 2 — KLCC Property Holdings Bhd’s (KLCCP) pre-tax profit for the second quarter (Q2) ended June 30, 2016 declined to RM230.33 million from RM232.64 million in the same quarter last year.

In a filing to Bursa Malaysia today, the group said its revenue, however, rose to RM334.57 million from RM329.01 million in the same period a year ago.

KLCCP said the one per cent lower pre-tax profit was due mainly to higher expenses incurred by both office and hotel operation segments.

On prospects, the group said, it expected the office segment to remain stable for the remainder of the year.

“However, the retail and hotel segments will continue to experience reduced levels of consumer demand and occupancy. These trading conditions are likely to remain for the rest of the year,” it said.

 


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