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PETALING JAYA (June 9): Property developer LBS Bina Group Bhd plans to launch more landed properties next year.
"I think landed is the best selling at the moment. That's why next year LBS plans to have many landed properties launches," LBS managing director Tan Sri Lim Hock San told reporters, after the company’s annual general meeting today.
However, he declined to elaborate on where the launches will be located.
"We already have something in mind," he added.
LBS Bina, which had previously announced that it was planning 15 launches with a total gross development value (GDV) of RM2.5 billion this year, posted a net profit of RM16.86 million in its latest quarter ended March 31, 2016 (1QFY16), up 45.72% from the RM11.57 million it saw in the same period a year ago, mainly attributable to its various projects.
Revenue rose 53.21% to RM200.47 million, from RM130.84 million.
With unbilled sales of approximately RM1.11 billion as at May 31 and new project launches in the year 2016, Lim is confident the group will be able to achieve its sales target of RM1.2 billion.
At 12.05 p.m., shares of LBS Bina were traded 1 sen or 0.63% lower at RM1.57, for a market capitalisation of RM883.73 million. Year-to-date, the counter has risen 13.77%. — theedgemarkets.com
