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NewsGlomac 1Q profit climbs 14.9% to RM24m
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Glomac 1Q profit climbs 14.9% to RM24m
by Cals Tue 24 Sep 2013, 01:33
Glomac 1Q profit climbs 14.9% to RM24m
Business & Markets 2013
Written by Jeffrey Tan of theedgemalaysia.com
Monday, 23 September 2013 18:36
KUALA LUMPUR (Sept 23): GLOMAC BHD []’s net profit climbed 14.9% year-on-year to RM24 million from RM20.9 million in the first quarter ended July 31, 2013.
In a filing to the stock exchange, the property developer attributed the increase in profit to record sales performance in the last financial year, with earnings contribution derived from the steady CONSTRUCTION [] progress in Glomac’s key ongoing projects.
Meanwhile, group 1Q revenue rose 0.7% to RM162 million from RM161 million in the previous corresponding quarter.
For the new financial year, the group is planning to launch RM1.38 billion worth of new projects including the maiden launch of its shop offices in Puchong’s Lakeside Residences and Centro V.
“Performance in the current year is expected to excel further, driven by high unbilled sales. Our strong pipeline of new launches should also translate to higher projects sales for the year,” said Glomac.
Business & Markets 2013
Written by Jeffrey Tan of theedgemalaysia.com
Monday, 23 September 2013 18:36
KUALA LUMPUR (Sept 23): GLOMAC BHD []’s net profit climbed 14.9% year-on-year to RM24 million from RM20.9 million in the first quarter ended July 31, 2013.
In a filing to the stock exchange, the property developer attributed the increase in profit to record sales performance in the last financial year, with earnings contribution derived from the steady CONSTRUCTION [] progress in Glomac’s key ongoing projects.
Meanwhile, group 1Q revenue rose 0.7% to RM162 million from RM161 million in the previous corresponding quarter.
For the new financial year, the group is planning to launch RM1.38 billion worth of new projects including the maiden launch of its shop offices in Puchong’s Lakeside Residences and Centro V.
“Performance in the current year is expected to excel further, driven by high unbilled sales. Our strong pipeline of new launches should also translate to higher projects sales for the year,” said Glomac.
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