LBS Bina’s 2QFY21 revenue ups 59% to RM265.9m

PETALING JAYA (Aug 30): LBS Bina Group Bhd's revenue for the second quarter ended June 30, 2021 (2QFY21) rose 59% to RM265.9 million from RM166.9 million a year ago.

The group’s profit after tax (PAT) has increased to RM19.4 million in 2QFY21, compared to the RM2.9 million a year ago.

In a media statement today, LBS Bina attributed the strong quarterly results to sustained demand and steady construction progress.

For the first six months, the group reported revenue and PAT of RM668.5 million and RM52.3 million respectively, a year-on-year (y-o-y) surge of 43% and 614% respectively.

LBS Executive Chairman Tan Sri Lim Hock San said the group continues to achieve strong revenue despite the pandemic challenges.

“Moving forward, the focus will be on the on-going development projects at KITA @ Cybersouth, Alam Awana, Skylake Residence, Residensi Bintang Bukit Jalil and Bandar Putera Indah. More than 77% of the Group’s revenue is derived from our Klang Valley development projects,” he said in the statement.

He noted that LBS has secured a total sales of RM728.3 million and bookings in the pipeline of RM599.8 million as at Aug 29,2021, putting the group on track to meet its sale target of RM1.2 billion this year.

LBS Bina currently has 19 on-going developments with an estimated gross development value (GDV) of RM5.67 billion, land bank for future development of 3,343 acres with an estimated GDV of RM27.2 billion and unbilled sales of RM2.25 billion.

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