“The property development division reported a better performance due to contributions from its ongoing projects in Emerald 9 (pic) and Emerald Hills in Cheras.皇冠正网app（www.hg108.vip）是一个开放皇冠正网代理APP下载、皇冠正网会员APP下载、皇冠正网线路APP下载、皇冠正网登录APP下载的皇冠正网平台。皇冠正网APP上最新登录线路、新2皇冠官方正网更新最快。皇冠正网APP开放皇冠官方会员注册、皇冠官方代理开户等业务。
PETALING JAYA: Guocoland (M) Bhd hinted at acquiring more land and launching new property projects, after its property development business consistently delivered stronger revenue over the past three consecutive quarters.
Guocoland, which is the property arm of Hong Leong group, said new product launches would be phased according to prevailing market conditions.
In a filing with the stock exchange, it also said that it would continue to monetise its inventories and complete its development projects on time.
In the fourth quarter ended June 30, Guocoland’s net profit surged by over three-folds year-on-year (y-o-y) to RM23.79mil.This was achieved on the back of a stronger top line, with the revenue increasing 29.1% y-o-y to RM172.08mil, as well as a lower loss incurred by the hospitality division.
“The property development division reported a better performance due to contributions from its ongoing projects in Emerald 9 and Emerald Hills in Cheras.
“The performance of the hospitality division has improved with higher occupancy and average room rates from the increase in tourism subsequent to the reopening of international borders and relaxed local travel restrictions in the current quarter,” according to the group.,
For the fourth quarter under review, the earnings per share stood at 3.55 sen. Guocoland declared a dividend of two sen per share for the quarter.
Cumulatively, for the financial year of 2022 (FY22), Guocoland reported a net profit of RM26.3mil.
This represented a sharp drop of 66.03% y-o-y.
The revenue for the full-year also declined by 33.3% y-o-y to RM434.07mil.
However, Guocoland said that its FY22 financial performance had improved and had the one-off gain on a disposal made in the previous financial year.