NCT Alliance 2Q revenue jumps 52.1% on project sales

• Looking ahead, NCT Alliance said it expects its upcoming project launches to support revenue in the second half of FY2025.

KUALA LUMPUR (Aug 28): NCT Alliance Bhd registered a second-quarter 52.1% surge in revenue.

In a bourse filing on Tuesday (Aug 26), the group reported a net profit of RM4.99 million for the quarter.

Quarterly revenue rose 52.1% to RM106.9 million from RM70.27 million in 2QFY2024, mainly supported by the completion of unit sales at Grand Ion Majestic and contributions from its ongoing Ion Belian Garden project.

No dividend was declared for the quarter.

For the first half of FY2025 (1HFY2025), net profit stood at RM8.58 million, while cumulative revenue increased marginally to RM159.95 million from RM158.6 million in the corresponding period last year. 

The revenue performance during the period was driven by Grand Ion Majestic, Ion Belian Garden and Acacia Residences, with the improvement largely attributed to the ongoing progress of Ion Belian Garden.

Looking ahead, NCT Alliance said it expects its upcoming project launches to support revenue in the second half of FY2025. These include Phase 1 of its maiden development in Sabah, Ion Borneo Garden, Phase 3 of Ion Belian Garden and Ion Marina Bay.

According to the group, these new launches are anticipated to strengthen revenue streams, enhance market presence and contribute positively to its financial performance, while supporting long-term business sustainability. NCT Alliance also noted that it will continue to pursue new development opportunities across both East and West Malaysia.

As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.