Sunday 26 Jan 2025
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KUALA LUMPUR (August 27): IOI Properties Group Bhd’s net profit rose 3.09% to RM401.59 million in the fourth quarter ended June 30, 2015 (4QFY15), from RM389.57 million a year ago, on higher sales.

Revenue was higher by 47.3% to RM614.33 million, from RM417.17 million in the previous corresponding quarter.

“The increase in both revenue and operating profit are mainly contributed from increase in sales of Trilinq project in Singapore, as well as the recent[ly] launched projects in IOI Palm City, Xiamen, PRC which has received overwhelming response with advanced progress works,” said IOI Properties in a filing with Bursa Malaysia today.

For the full year, IOI Properties’ net profit was flat at RM890.70 million, from RM889.92 million in FY14. Revenue however, jumped 31% to RM1.91 billion, from RM1.45 billion last year.

“The group will continue to focus on affordable housing and landed properties in our existing and new townships.

“With its wide geographical presence in Malaysia, the group has greater flexibility to roll out new products in line with market demand, to support its long term growth strategies,” said IOI Properties.

The property developer added that internationally, it is targeting to launch its second phase of residential properties in IOI Palm City, Xiamen PRC, in the second quarter of financial year ending June 30, 2016, after receiving overwhelming response from its first phase launched during the last quarter of this financial year.

“In addition, the group is expected to generate higher income stream from its property investment segment, with the completion of two office towers and a five-star hotel, Le Meridien in the third quarter of financial year 2016,” it said.

IOI Properties' share price was up four sen or 2.1% to RM1.93 today, giving it a market capitalisation of RM7.119 billion.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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