LBS Bina’s earn­ings up 26%

The Star Malaysia - StarBiz - - News -

PETALING JAYA: LBS Bina Group Bhd said “im­pres­sive” take-up rates at the group’s on­go­ing prop­erty projects lifted its net profit by more than a quar­ter for the three months ended Sept 30, even as some of its big­ger ri­vals re­ported slug­gish sales.

Earn­ings dur­ing the quar­ter rose 26% to RM25.9mil com­pared with RM20.5mil a year ago. Rev­enue climbed to RM351mil from RM245mil pre­vi­ously, the com­pany said in a fil­ing with Bursa Malaysia yes­ter­day.

The group said its growth prospects were backed by the to­tal prop­erty sales of RM1.33bil and to­tal un­billed sales of RM1.62bil achieved as at end-Septem­ber.

It has 22 on­go­ing projects and a to­tal land bank of 3,856 acres. Prop­erty de­vel­op­ment ac­counted for 90% of the group’s rev­enue. Projects within the Klang Val­ley were the largest con­trib­u­tor, ac­count­ing for more than two-thirds for the nine-month pe­riod.

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