KUALA LUMPUR: Glomac Bhd posted a higher net profit of RM15.9mil for the second quarter ended Oct 31 against RM9.3mil a year earlier, mainly due to contributions from on-going progress completion from Glomac Tower and Glomac Cyberjaya.
Its pre-tax profit for the period almost doubled to RM32mil from RM16.3mil previously. Revenue for the period was 86.3% higher at RM140.9mil versus RM75.6mil a year ago.
For the six-month period ended Oct 31, Glomac posted a net profit of RM31.4mil on revenue of RM267.2mil.
Glomac said its unbilled sales as at the end of October remained high at RM572mil, and this remained one of the key earnings growth drivers for the group going forward.
We are confident that our sales momentum can be sustained. Glomac is well positioned, having more than RM2.5bil worth of development projects for launch, group executive chairman, Tan Sri F.D. Mansor said in a statement.
Our balance sheet is healthy, giving us the capacity to further seek out landbank acquisition opportunities, he said.
