Lim said LBS achieved RM1.63bil in sales last year, exceeding its target of RM1.5bil by 8.6% in 2018.
SELANGOR: Township developer LBS Bina Group Bhd (LBS) posted an improved revenue of RM1.33bil and profit before tax of RM158mil for the financial year ended 2019 with the support from homebuyers.
In addition to that, the result was driven by good take-up rate and steady construction progress from on-going projects within the Klang Valley, Pahang and Johor.
“Despite challenging times, homebuyers’ trust in the LBS brand motivated us to rise to the challenge with strategic developments while maintaining attractively affordable prices for their needs,” said LBS group managing director Tan Sri Lim Hock San.
Contributing to the group’s notable performance are some of LBS’ properties and townships that are designed on the brand’s three main pillars of affordability, connectivity and community.
The hot-selling townships and projects in 2019 were LBS Alam Perdana, located in Bandar Puncak Alam, KITA@Cybersouth in Dengkil, and Residensi Bintang Bukit Jalil, a thriving southern suburb of Kuala Lumpur.
LBS has 18 on-going projects with an estimated gross development value of RM4.49bil, with total unbilled sales of RM2.24bil, and land bank of approximately 3,620 acres as of Dec 31, 2019.
