KUALA LUMPUR, Nov 9 (Bernama) — KLCCP Stapled Group on 8 November 2021 announced its financial results for third quarter 2021, showing a revenue decline of 17% from RM312.6 million to RM260.3 million compared to third quarter, 2020 amid prolonged restrictions and movement control order due to the exponential increase in Covid-19 cases. Profit Before Tax (PBT) was down 21% to RM154.1 million from RM195.5 million last year.
Under the backdrop of a very challenging environment, the office segment remained the major contributor to the Group’s revenue showing strong momentum backed by long term leases. The decline in revenue and PBT was mainly attributed to the weak performance of the hotel and retail segments which was significantly impacted by the restrictions imposed due to the escalating health crisis which further dampened recovery in both the retail and hotel markets.
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