PETALING JAYA: Glomac Bhd posted a higher net profit of RM21.9mil for its third quarter ended Jan 31, 2012, up 32.7% from RM16.5mil recorded in the previous corresponding quarter.
Revenue decreased to RM145.2mil from RM176.5mil previously.
For its nine-months ended Jan 31, 2012, the company achieved a net profit of RM63.5mil, a 32.2% increase, compared with RM48mil previously. Revenue dropped to RM407.9mil from RM443.7mil.
In a statement, Tan Sri Datuk FD Mansor said the company was riding on a healthy growth momentum. Not only have our results continued to excel, we chalked up property sales of RM343mil in this nine-month period.
“We're well on track to achieve our target sales of RM500mil for the whole financial year,” he said.
The group is also preparing for the upcoming launch of its 39-storey Reflection Residences, a freehold serviced apartments project with a gross development value of RM270mil in Mutiara Damansara.
“We have also built up a substantial war chest,' allowing us to seek out opportunities for new landbank acquisition to maintain the growth strategy in our development business.” he said.
The company recently acquired two parcels of leasehold land totaling 80.94ha for RM44mil, which is adjacent to Bandar Saujana Utama.
By The Star
Saturday, March 24, 2012
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