KUALA LUMPUR (Aug 24): Eastern & Oriental Bhd (KL:E&O) reported that its earnings rose nearly 28% in the recently-ended quarter as revenue jumped over an eight-year high from higher project progress billings.

Net profit for the three months ended June 30, 2026 (1QFY2027) came in at RM58.1 million compared with RM45.4 million, a bourse filing on Monday showed. Revenue jumped 53.4% year-on-year to RM281.5 million, thanks to recently launched projects in Penang and Selangor.

“Looking ahead, we have two upcoming launches for the financial year 2027 consisting of a waterfront service apartment and landed homes,” said Eastern & Oriental managing director Kok Tuck Cheong. “We will be launching these developments towards the end of the financial year.”

The company also plans to redevelop a recently acquired prime residential land parcel within walking distance of KLCC and Pavilion KL into luxury serviced apartments.

“The acquisition will further expand our development footprint in Klang Valley and strengthen our premium residential portfolio in one of Kuala Lumpur’s most established and desirable locations,” Kok added.

For its hospitality segment, E&O expects positive momentum to continue, supported by sustained regional travel demand, after revenue at its hotels segment fell 1.6% in 1QFY2027.

No dividend was declared for the quarter under review.

Shares of E&O rose half a sen, or 0.6%, to 79.5 sen ahead of the announcement on Monday, valuing the group at RM2 billion. Year to date, the counter has gained more than 8%.