LBS Bina 2Q profit up 41% on higher take-up rate of properties
KUALA LUMPUR (Aug 30): LBS Bina Group Bhd's net profit in the second quarter ended June 30, 2017 (2QFY17) jumped 41.07% to RM28.43 million, from RM20.15 million in the same quarter last year, on the back of higher take-up rate across multiple property developments.
Earnings per share (EPS) stood at 4.33 sen in the quarter, against 3.63 sen in 2QFY16. However, no dividend was proposed.
Revenue spiked 57.83% to RM356.09 million from RM225.61 million in the same quarter last year.
For its six-month period ended June 30 (6MFY17), LBS Bina's net profit was 43.74% higher at RM53.2 million, compared with RM37.02 million in the same corresponding period last year. Similarly, half-year revenue was also up by 41.62% to RM603.44 million, from RM426.08 million in 6MFY16.
About 90% of group revenue in 1HFY17 was contributed by LBS Bina's property development division, said the company.
"The improved revenue and PBT for the current quarter and financial period were largely from the ongoing projects with impressive take up rate at Bandar Saujana Putra, D' Island Residence, Cameron Golden Hills, Bandar Putera Indah, Sinaran Mahkota, Midhills, Desiran Bayu and Zenopy Residences," it added.
On prospects, LBS Bina said: "The group's prospects remain positive with its property sales stood at RM799 million as at Aug 28, 2017, total unbilled sales of RM1.395 billion as at July 30, 2017, anchored by 18 ongoing projects and remaining landbank of 4,197 acres."
Shares of the property developer closed 0.52% or 1 sen lower yesterday at RM1.90, giving it a market capitalisation of RM1.29 billion. —
At 2.00 after share split to 2 is 1.00 and bonus 10-1 is 0.90 cent,very cheaper at this prices so before bonus and share split lbs price will be stand at 2.20 above,this stock like sunway before bonus!
You are right. Same like VIS, Penta and many more. Soon we will see Kerjaya, LBS also the same. Buy after bonus, lower risk. ------------------------------------------------------------------------------------------------------------------------ @leslieroycarter Many counters after bonus n split , the stock slumps to its lowest point..... 12/02/2018 10:41
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
ys798386
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Posted by ys798386 > 2017-08-12 13:07 | Report Abuse
I don't understand what the RCPS stand for ? i have bought 6000 units of RCPS. Is it not followed the market price ?can anyone explain?thanks