KUALA LUMPUR (Nov 26): Eastern & Oriental Bhd (KL:E&O) on Tuesday declared a special dividend, even as the property developer’s net profit only edged up slightly in the second financial quarter from a year earlier.
The dividend amounts to one sen per share, payable on Dec 18, E&O said in an exchange filing.
Net profit for three months ended Sept 30, 2024 (2QFY2025) was RM30.39 million, up 2.2% when compared to the same quarter last year, as higher revenue from the development projects more than offset an unrealised foreign exchange loss recorded in the period, the company said in a separate filing.
Earnings per share stood at 1.46 sen per share, versus 1.83 sen per share a year earlier.
Quarterly revenue rose 38% to RM171.03 million from RM123.86 million.
For the first half ended Sept 30, 2024 (1HFY2025), earnings rose over 8% to RM67.91 million from RM62.69 million, while revenue jumped 61% to RM336.68 million.
“Our upcoming product offering, the first waterfront high-rise residential on Andaman Island, is on schedule to launch by year end,” E&O said. “We are confident in our offerings and anticipate that sales momentum will continue moving forward.”
Meanwhile at its hospitality segment, the company said it expects an increase in revenue driven by the year-end festive season.