KUALA LUMPUR (Aug 28): Mah Sing Group Bhd's (KL:MAHSING) net profit gained 9.6% in the second quarter ended June 30, 2025 (2QFY2025) as lower costs more than offset a slightly decreased revenue.

Net profit for the quarter under review stood at just over RM66 million from RM60.2 million a year ago, according to its Bursa Malaysia filing on Thursday.

Earnings per share rose to 2.58 sen from 2.37 sen.

Quarterly revenue dropped slightly by 2.2% to RM565.9 million from RM578.4 million.

No dividends were declared during the quarter.

For the first half, earnings jumped 9.8% to RM132.1 million from RM120.3 million in the corresponding period a year ago, while revenue fell 7% to RM1.22 billion.

During the period under review, its property development segment recorded a 17.4% year-on-year rise in operating profit to RM211.5 million and a 5.4% year-on-year increase in revenue to RM963.8 million, mainly driven by progressive revenue recognition from ongoing construction progress.

However, operating loss was higher at its manufacturing segment at RM5.2 million (including an unrealised forex loss of RM1.5 million due to ringgit appreciation) as compared to RM500,000 (including one-off insurance recoveries income of RM2.7 million and an unrealised forex gain of RM0.9 million) in the prior period.

In a separate statement, the group said it has RM1.85 billion worth of upcoming launches for the rest of 2025.

With a strong balance sheet and cash in hand of RM1.12 billion, Mah Sing's founder and group managing director Tan Sri Leong Hoy Kum said, "We will continue to actively explore land bank opportunities in the Klang Valley, Penang and Johor for both residential and industrial developments."