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  • KLCC Property Profit Plunges
  • KLCC Property profit plunges

    PETALING JAYA: KLCC Property Holdings Bhd’s net profit plunged 85% to RM177.8mil for its third quarter ended Sept 30 from RM1.17bil in the previous corresponding period.

    Excluding the RM1.37bil fair value adjustment in the previous year, its operating profit was higher at RM242.5mil compared with RM210.2mil. Revenue was higher at RM321.5mil from RM282.8mil, which the company attributed to its office property investment and retail property investment segments.

    “The directors are of the view that the performance for the remainder of financial year 2013 will be in line with expectation. However, the hotel segment will continue to trade in a challenging environment,” said the company.

    For its nine-month period ended, its net profit stood at RM452.4mil with revenue amounting to RM947.7mil.

    It declared its third interim dividend of 8.28 sen, bringing its total dividend to date to 20.23 sen, compared with 12 sen in the previous corresponding period.