Bina Darulaman's FY2023 net profit more than doubles to RM12.7m

• In a bourse filing on Thursday, BDB said revenue for the year rose to RM316.12 million from RM231.37 million.

KUALA LUMPUR (Feb 29): Bina Darulaman Bhd's (BDB) net profit for the financial year ended Dec 31, 2023 (FY2023) more than doubled to RM12.67 million or 4.17 sen per share, from RM5.59 million or 1.84 sen per share a year ago, on higher revenue due to improvements made by construction activities and the completion of initiatives from the property division.

In a bourse filing on Thursday, BDB said revenue for the year rose to RM316.12 million from RM231.37 million.

For the fourth quarter, BDB said net profit rose to RM18.61 million from RM9.35 million a year ago, on revenue of RM134.12 million versus RM92.44 million previously.

Reviewing its performance, BDB said its higher revenue and profit were due from the completion of joint venture agreements in Kubang Pasu and Sungai Petani, Kedah.

On its prospects, BDB said it will continue to focus on Kedah and support current infrastructure projects, including Pelubang Water Treatment, Irrigation System Development Project, State Road Maintenance Project, and other infrastructure projects.

It said these projects are progressing as planned.

“The expansion initiatives into new business streams and markets will ensure the sustainability of the group’s earnings in years to come,” it said.

At the midday break, BDB was unchanged at 27 sen with 49,100 shares traded, valuing it at RM80.58 million.

Looking to buy a home? Sign up for EdgeProp START and get exclusive rewards and vouchers for ANY home purchase in Malaysia (primary or subsale)!