KUALA LUMPUR (Oct 28): Iconic Worldwide Bhd (KL:ICONIC) is on track to double its revenue to RM150 million for its financial year ending June 30, 2027 (FY2027), after nearly achieving the same feat the year prior.

For the financial year ending June 30, 2026 (FY2026), the property developer grew its revenue by 84.8% to RM87.61 million, from RM47.4 million in FY2025.

Meanwhile, Iconic Worldwide’s total net profit saw an almost 200% increase for FY2026 to RM9.35 million compared to RM3.15 million in FY2025.

This was driven by the group’s high demand for its Penang high-rise mixed development, Iconic Harmony, which is anticipated to deliver all sold-out units before the end of 2027. The group is also working towards launching its next development project in Penang within the same time frame.

“Iconic Harmony, which we launched in April 2024, has an estimated gross development value of RM300 million. 

"As of FY2026, about RM80 million in sales has been recognised as revenue, leaving more than RM200 million to be recognised over the next two fiscal years,” said executive chairman of Iconic Worldwide Datuk Seri Tan Kean Tet in a release on Wednesday.

Tan added that the group’s property business alone is expected to contribute RM120 million in revenue, largely driven by Iconic Harmony’s to-be-recognised revenue.

Meanwhile, its manufacturing business, which works on personal protective equipment and babycare products, is expected to contribute around RM30 million to 40 million in revenue.

The group’s hospitality segment is projected to earn RM10 million from hotel and serviced apartment management, driven by demand for its Iconic Regency serviced apartments, which have an average occupancy rate of 80%-90%.

Iconic Worldwide’s shares rose by 4.55% to 11.5 sen per share on Wednesday, leading to a market capitalisation of RM194 million.