Land & General's 1Q net profit more than doubles on stronger property, education earnings

• The group operates the Sri Bestari Private School, Sri Bestari International School and Manjaria Bestari Kindergarten.

KUALA LUMPUR (Aug 22): Land & General Bhd’s (KL:L&G) net profit more than doubled in the first quarter on higher contributions from its property development and education divisions.

For the quarter ended June 30, 2025 (1QFY2025), net profit jumped to RM11.40 million from RM4.10 million a year earlier, on the back of a 160% surge in revenue to RM98.56 million from RM37.18 million, the group said in a filing with Bursa Malaysia on Friday.

The group said its property division was a main driver for overall bottomline growth, which soared almost ninefold to RM18.7 million from RM2.96 million previously, on the back of higher sales that tripled to RM85.51 million from RM26.38 million.

The improvement was attributed to higher revenue recognition from ongoing development projects, namely Damansara Livista and Residensi Kamelia in Bandar Sri Damansara, as well as The Wyn Residences in Bandar Puchong Jaya.

Meanwhile, its education division posted revenue of RM11.45 million compared with RM9.28 million previously, with operating profit improving to RM5.13 million from RM3.6 million. The division’s stronger performance was driven by higher school fees and increased student enrolment.

The group operates the Sri Bestari Private School, Sri Bestari International School and Manjaria Bestari Kindergarten.

Looking ahead, L&G said it expects a promising financial year, supported by encouraging take-up rates for The Wyn Residences, Residensi Kamelia and Damansara Livista, along with unbilled sales of RM594.01 million as at June 30, 2025. These are expected to contribute positively to the group’s earnings in the current year, according to the group's filing.

Mayland Parkview Sdn Bhd, a unit of Mayland Group controlled by founder Tan Sri David Chiu, is the single largest shareholder of L&G with a 34.7% stake.

Shares in L&G closed unchanged at 11.5 sen on Friday, giving the group a market capitalisation of RM327.66 million. The stock has declined by over 4% year to date.

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