Glomac Bhd's pre-tax profit for the six months ended Oct 31, 2010, surged 87.5 per cent to RM61.5 million from RM32.825 million for the same period last year.

In the same period, revenue surged 98.5 per cent to RM267.2 million from the RM134.6 million achieved in the six months ended Oct 31, 2009.

The stronger performance was attributed to contributions from Glomac's multiple successful projects such as Glomac Tower, Glomac Damansara, Glomac Cyberjaya, Bandar Saujana Utama and Seri Bangi at Bandar Baru Bangi, it said in statement released here, today.

We are pleased to have delivered an even stronger set of results for Glomac. All our development projects are progressing on schedule. Fuelled by the record sales we achieved over the past 12 months, we believe the company is riding throug an exciting growth path, said its group executive chairman, Tan Sri F.D. Mansor.

Unbilled sales as at the end of October, remains high at RM572 million, and this is one of the key earnings growth drivers for the group going forward.

We are confident that our sales momentum can be sustained. Glomac is well positioned, having more than RM2.5 billion worth of development projects for launch.

More immediate is our RM250 million Glomac Damansara apartments, which we will officially launch in January next year. Given the strong interest shown in the project thus far, we are confident it will be well received, he added.

Other development projects earmarked for launch over the next 12 months are valued in excess of RM1.0 billion, and includes a retail mall in Glomac Damansara, the RM400 million Glomac Utama mixed development in Petaling Jaya and a RM250 million apartment in Mutiara Damansara.

Our balance sheet is healthy, giving us the capacity to further seek out landbank acquisition opportunities, to add to our portfolio of future development projects, Mansor highlighted. -- Bernama