KUALA LUMPUR: Aeon Co (M) Bhd is cautiously optimistic to witness positive retail momentum, following the return of consumers to malls and shopping centres, as spending would be anchored on the stability of market conditions, improvements in overall income levels and continued policy support by the government, managing director Keiji Ono said.
He said the company, nevertheless, remained resolute in its efforts to fortify Aeon’s business and at the same time, forge ahead on its transformation.
“In 2023, digitalisation, innovation and sustainability will continue to be our game changers as we move towards realising sustainable digital transformation.
“We will collectively accelerate and scale up our New Retail model to ensure it is more demand-based and attuned to present market dynamics, customer consumption behaviours and patterns,” he said in the retailer’s annual report 2022 released yesterday.
He said Aeon would focus on the rejuvenation of two malls in 2023 of which, the maintenance at these malls and stores would be enhanced to ensure they are equipped with facilities that reflected customers’ preferences.
“We will also pay greater attention to improving the operational aspects of all our malls and stores where we will adopt more energy efficient measures, enhance waste and water management as well as increase renewable energy consumption, where possible,” he said.
On the financial performance, Keiji said the company continued to demonstrate strong financial performance for the year under review, recording a profit before tax (PBT) of RM211.5 million, an increase of 61.4 per cent from RM131 million in the financial year 2021 (FY2021).
He said the higher PBT was contributed by an increase in revenue, which managed to offset the rise in operating costs. Ono said total revenue stood at RM4.14 billion, 14.1 per cent higher as compared with RM3.63 billion recorded in the preceding year. He said the retail segment experienced a 13.8 per cent increase in revenue to RM3.53 billion from RM3.1 billion in FY2021.
“This was due to improved softline and hardline sales attributed to the reopening of national borders and a higher number of customers as they resumed outdoor activities and festive celebrations after two years of restricted movements,” he said.
He said the improved performance is attributed to Aeon personalisation strategy to better understand customer needs. – BERNAMA
