Glomac Q2 profit jumps to RM23.8m

KUALA LUMPUR: Glomac Bhd said its second quarter net profit jumped 50 per cent to RM23.8 million from RM15.9 million in the same period last year.

However, revenue fell to RM134.8 million from RM140.9 million last year.

In a statement to Bursa Malaysia, the company said the decrease was due to completion of two projects, namely Glomac Tower and Glomac Galleria.

Its group executive chairman Tan Sri FD Mansor said the company “has a strong pipeline of strategic projects with a total gross development value of RM2.6 billion for launch beyond this year”.

By Business Times