KLCCP Stapled Group, comprising KLCC Property Holdings Bhd and KLCC Real Estate Investment Trust (KLCC REIT), reported a 4.96% increase in net profit to RM185.34 million in the third quarter ended September 30, 2023 (3Q23), driven by improved hotel and management services.

Quarterly revenue grew by 7.27% to RM401.16 million.

The group declares a dividend of 8.8 sen per stapled security, marking an increase from the previous year.

The hotel segment, represented by Mandarin Oriental Kuala Lumpur, achieved its best quarter to date with RM55 million in revenue.

The group anticipates sustained recovery in the hotel and retail segments amid growing international tourism and increasing corporate demand. – TMR

Source: KLCCP Stapled Group’s 3Q net profit rises, declares dividend increase (themalaysianreserve.com)