KUALA LUMPUR (Aug 21): Retail group AEON Co (M) Bhd (KL) (KL:AEON), which runs the AEON Store and MaxValu chains, reported a 15.7% year-on-year increase in its second-quarter net profit, thanks to tighter cost controls and improved operational efficiency.

Net profit for the three months ended June 30, 2026 (2QFY2026) rose to RM14.2 million from RM12.27 million for 2QFY2025, despite revenue staying largely unchanged at RM995.33 million compared with RM999.65 million, its bourse filing on Friday showed.

Revenue from the retail business segment eased 1.2% as consumer spending remained cautious amid a challenging operating environment, with consumers continuing to prioritise essential goods while moderating discretionary purchases.

The decline was partly cushioned by the group's property management services business, supported by sustained occupancy rates and successful rental renewals.

No dividend was declared with the quarterly results.

For the six months ended June 30, 2026 (1HFY2026), AEON’s net profit climbed 21.8% to RM97.92 million from RM80.37 million for 1HFY2025, even as revenue was unchanged at RM2.24 billion.

On prospects, AEON said its 28th mall, KL Midtown, is scheduled to open in the fourth quarter of this year. Renovation works at AEON Permas Jaya, AEON Kinta City and AEON Seremban 2 have also commenced and are progressing well, with completion targeted before the year-end festive season.

AEON shares rose one sen to RM1.01 on Friday, giving the company a market capitalisation of RM1.42 billion. The counter has slipped by over 6% year to date.