KUALA LUMPUR, March 14 (Bernama) -- Glomac Bhd's net profit for the third quarter ended Jan 31, 2018 fell to RM3.39 million from RM5.33 million in the same quarter last year.
Revenue, however, rose to RM105.13 million from RM87.49 million previously, due to contributions from three key ongoing developments, semi-detached houses at Saujana KLIA in Dengkil, Lakeside Residences in Puchong and Saujana Perdana township in Sungai Buloh, it said in a filing with Bursa Malaysia today.
Group Executive Chairman, Tan Sri Mohamed Mansor Fateh Din, said 90 per cent of Glomac's targeted new launches in the current financial year were landed developments, comprising terrace houses, semi-detached and affordable homes, worth RM542 million in total.
"In line with prevailing market conditions, we are maintaining our development strategy, which is to focus on mass market demand.
"To-date, new launches in this segment have been well-received and this momentum is expected to sustain in the foreseeable future," he said.....