Glomac posts RM11.52 million net profit

by NUR HANANI AZMAN

GLOMAC Bhd recorded net profit of RM11.52 million for the second quarter ended Oct 31, 2021 (2QFY22) from RM8.4 million a year ago mainly due to various phases of Movement Control Order (MCO).

Its revenue slipped 27.93% to RM75.39 million from RM104.61 million last year.

Earnings per share rose to 1.50 sen compared with 1.09 sen previously, the group’s bourse filing showed.

“Revenue from property development segment for the quarter and cumulative year to date decreased by 28% and 31% respectively as compared to previous corresponding period, mainly due to the restricted physical construction work for ongoing project phases during the MCO which impacted the progress of construction work.

“Nevertheless, new launches and ongoing phases such as Saujana Perdana located at Bandar Saujana Utama, [email protected] Kelana Jaya, 121 Residences, Lakeside Boulevard and Sri Saujana in Johor have contributed to the revenue for the period,” it said.