PETALING JAYA: LBS Bina Group Bhd’s net profit for its second quarter ended June 30, dipped slightly to RM20.15mil from RM21.74mil in the previous corresponding period, while revenue rose to RM225.61mil from RM223.02mil a year earlier.
In a filing with Bursa Malaysia, the company attributed the earnings to its ongoing projects at Bandar Saujana Putra, D’Island Residence, Cameron Golden Hills, Bandar Putera Indah, Sinaran Mahkota, Midhills and Alam Awana.
For the six-month period, net profit rose to RM37.02mil from RM33.31mil in the previous corresponding period, while revenue increased to RM426.08mil from RM353.87mil a year earlier.
“With the group’s 17 ongoing projects, unbilled sales of approximately RM1.25bil as at July 31, 2016 and new project launches in the year 2016, the group is confident of achieving further improvement in its financial performance for the financial year ending Dec 31, 2016 (FY16).”
Separately, the company also approved the declaration of a special dividend of six sen per ordinary share of RM1 each (exempt from income tax) in respect of FY16, to be payable in three tranches, two sen for each tranche.
LBS said the first payment will be made in the fourth quarter of 2016, while the remaining two payments are to be paid in the first and second quarters of 2017.
