Glomac Bhd posted a higher net profit of RM9.3mil in its second quarter ended Oct 3 against RM7.7mil in the previous corresponding period.
Revenue for the period was lower by 17% at RM75.6mil compared with RM91mil previously partly due to the completion of its Suria Stonor condominium project, the company said in a statement yesterday.
Earnings per share stood at 3.26 sen compared with 2.74 sen before.
Group executive chairman Tan Sri F.D. Mansor said: “Robust development activities and a strengthened balance sheet have placed us on a stronger growth platform.
“We are confident of achieving better results this year, and success in our new projects such as Glomac Damansara and Glomac Cyberjaya will contribute positively to our performance in the next two financial years.”
The group turned in a net cash position of RM19.9mil as at end-October, and is expected to improve further with proceeds from the disposal of its investment properties earlier in the year.
“Going forward, our recent acquisition of 7.6 acres in Petaling Jaya for RM31.2mil will add to the group’s already strong prime future development projects,” he added.
Revenue for the period was lower by 17% at RM75.6mil compared with RM91mil previously partly due to the completion of its Suria Stonor condominium project, the company said in a statement yesterday.
Earnings per share stood at 3.26 sen compared with 2.74 sen before.
Group executive chairman Tan Sri F.D. Mansor said: “Robust development activities and a strengthened balance sheet have placed us on a stronger growth platform.
“We are confident of achieving better results this year, and success in our new projects such as Glomac Damansara and Glomac Cyberjaya will contribute positively to our performance in the next two financial years.”
The group turned in a net cash position of RM19.9mil as at end-October, and is expected to improve further with proceeds from the disposal of its investment properties earlier in the year.
“Going forward, our recent acquisition of 7.6 acres in Petaling Jaya for RM31.2mil will add to the group’s already strong prime future development projects,” he added.
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