KLCC Property Q2 pre-tax profit rises to RM232.64 million
KUALA LUMPUR, Aug 7 -- KLCC Property Holdings Bhd's (KLCCP) pre-tax profit for the second quarter (Q2) ended June 30, 2015 rose to RM232.64 million from RM203.49 million in the same quarter last year.
Revenue however slipped to RM329.01 million from RM332.81 million in the same period a year ago.
In a statement released recently, KLCCP said revenue from office rental decreased marginally due to the closure of City Point Dayabumi Complex for redevelopment, while revenue from the hotel operations declined by about RM9.7 million or 22 per cent.
"The hotel operations continued to trade in challenging conditions primarily caused by overall weaker market demand coupled with renovation works of common areas and facilities," it said.
On prospects, the group expects the office and retail segments will remain stable for the remainder of this year, however, the hotel segment is expected to continue to trade in a challenging environment.