KLCCP Stapled Group posted a 12% increase in net profit for the fourth quarter of FY2024, reaching RM430.91 million, up from RM384.59 million in the same period last year.

The growth was driven by the full ownership of Suria KLCC Mall and higher fair value gains.

Revenue for the quarter ended Dec 31, 2024 (4Q24)rose by 3.72% to RM459.1 million, boosted by higher rental rates and a rise in occupancy to 99%.

The group declared a fourth interim dividend of 17.1 sen per stapled security, bringing its total dividend payout for FY2024 to a record high of 44.5 sen, marking a 9.9% increase from 40.5 sen in FY2023.

For the full year, net profit for FY2024 was up 9.15% to RM1.02 billion, while revenue increased 5.66% to RM1.71 billion.

The group’s strong performance led to the highest dividend payout since its listing in 2013.

Looking ahead, KLCCP remains optimistic about Malaysia’s economic growth in 2025 and plans to focus on asset enhancements and elevating customer experience within the KLCC Precinct. — TMR

Source: KLCCP Stapled Group posts 12% increase in 4Q profit, announces record dividend for FY2024