LBS Bina's earnings up 46.9% in first quarter


PETALING JAYA: LBS Bina Group Bhd’s net profit for the first quarter ended March 31, 2017 rose 46.92% to RM24.77 million from RM16.86 million a year ago due to contribution from several projects.

In a filing with Bursa Malaysia yesterday, the group said the improved results were mainly attributable to projects at Bandar Saujana Putra, D’ Island Residence, Cameron Golden Hills, Bandar Putera Indah, Sinaran Mahkota, Midhills, Alam Awana and Desiran Bayu.

Revenue rose 23.38% to RM247.35 million from RM200.47 million a year ago due to contribution from the projects above.

As at April 30, 2017, the group has 17 ongoing projects and unbilled sales of about RM1.41 billion. Combined with new projects launches this year, the group is confident of achieving further improvement in its financial performance this year.

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