LBS RECORDS ROBUST GROWTH
PETALING JAYA: LBS Bina Group Bhd, a leading property developer guided by people-first values, announced its impressive unaudited financial results for the first quarter of the financial year ending Dec 31 (Q1FYE2025).
Following the successful completion of multiple projects in 2024, the group maintained its growth by focusing on new developments to sustain its trajectory.
The group's higher progressive site construction activities enabled revenue to jump 15% to RM329.2mil in Q1FYE2025 from RM287.1mil in the preceding quarter.
Led by flagship projects in particularly KITA @ Cybersouth, LBS Alam Perdana, Prestige Residence and Idaman projects, LBS' Klang Valley developments continued to be the key driver, where it accounted for over 86% of Q1FYE2025's revenue.
The higher revenue – among other things – contributed to a higher profit after tax of RM32.5mil in Q1FYE2025, which was more than double the preceding quarter's RM15.8mil.
LBS group executive chairman Tan Sri Ir Dr Lim Hock San said, 'We are encouraged by the strong start to 2025, having secured RM281.2mil in sales and an additional RM256mil in bookings.
'This performance is driven by the robust demand for the state-of-the-art light and medium factories in our Alam Perdana Industrial Park, further boosted by Cameron Centrum, following the successful launch of Centrum Iris, its second precinct and largest mixed development, earlier this year.
'The strong uptake, in both these projects, reflects the strong market confidence in our developments and reinforces our strategy of delivering market-driven projects that cater to real demand.'
He added, 'Guided by our 8 x 8 strategy, we are focused on launching a robust pipeline of projects over the next three years, boasting a total gross development value (GDV) of RM8bil.
'This, combined with our sizeable 1,535ha of landbank and RM1.61bil in unbilled sales, we are well positioned for sustainable growth, providing clear visibility of our future revenue and earnings.'
Lim explained: 'Moreover, we are exploring opportunities to expand our presence in Melaka with our recent memorandum of understanding (MoU) to develop a mixed-use industrial development project with an estimated GDV exceeding RM7bil.
'We are excited about the potential growth opportunities and looking ahead, we maintain a cautiously optimistic outlook and will continue to respond with agility to evolving market demands while building on our strengths to drive sustainable growth.'
In a testament of the group's commitment to shareholder returns, the Board has proposed a final single-tier dividend of 1.10 sen per ordinary share in respect of the financial year ended Dec 31, 2024.
This is subject to the shareholders' approval at the forthcoming 25th annual general meeting on June 26. Upon approval, the cumulative dividend payout for 2024, including a first interim single-tier dividend of 1.00 sen per ordinary share and a special single-tier dividend of 2.60 sen per ordinary share, is 4.70 sen per ordinary share or RM73.2mil in total. This represents a 30% payout ratio, in line with the group's dividend policy.
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