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LBS Bina Pre-tax Profit Up At RM426.88 Million
Revenue rose to RM533.53 million, during the period under review, from RM509.64 million registered the previous year.
For its profit after tax, the property developer recorded a 916 per cent jump to RM392.32 million against RM37.15 million a year ago due to gains arising from the disposal of its China assets and profit contribution from on-going projects such as Pearl Villa, Royal Ivory and Royal Garden.
The company's basic earnings per share stood at 96.01 sen.
Managing Director Datuk Seri Lim Hock San said the company strongly believed its strategy to increase the focus in the affordable and middle range residential market was the right way to go.
"There is a growing demand from home-occupied buyers and we will continue to support the government's efforts to provide more options for the middle-income brackets," he said.
For this year, LBS Bina is planning to launch RM1.96 billion worth of projects in Pahang, Klang Valley, Batu Pahat and will continue to source for strategic development land to further enhance its performance.
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