Glomac's 4Q profit surges over fourfold, plans RM371 mil launches in FY2027

KUALA LUMPUR (June 26): Glomac Bhd (KL:GLOMAC) posted a more than fourfold increase in its fourth-quarter net profit, driven by higher progress billings and prudent cost management despite ongoing external cost pressures.

Net profit for the fourth quarter ended April 30, 2026 (4QFY2026) surged to RM13.26 million from RM2.74 million a year earlier, while revenue rose 6.4% to RM79.75 million from RM74.94 million, supported by progress billings from the KEYS semi-detached homes, shop offices at Lakeside Residences and Saujana Perdana, as well as Serai terrace homes at Sungai Buloh Country Resort.

The property developer proposed a final single-tier dividend of 1.38 sen per share, equivalent to a dividend yield of 4.3%, subject to shareholder approval at its upcoming annual general meeting.

For the full FY2026, Glomac’s net profit climbed 33.1% to RM21.2 million from RM15.94 million, although revenue slipped 5.1% to RM226.17 million from RM238.34 million.

Looking ahead, Glomac said in a statement that it plans to launch RM371 million worth of new developments in FY2027, comprising a balanced mix of commercial and landed residential projects across its established townships.

The group has kicked off its FY2027 launches with 16 Legacy, a dual-frontage semi-detached housing project in Saujana Rawang. Upcoming launches include shopoffices in Saujana Perdana and Saujana KLIA, semi-detached homes at Lakeside Residences, and a new phase of terrace homes at Serai @ SBCR.

Though Glomac remains cautious over geopolitical uncertainties, rising construction costs and inflationary pressures, the group said it will continue to focus on cost discipline, timely project delivery and execution of its planned launches.

As at end-April, the group had RM546 million in unbilled sales and a landbank with an estimated remaining gross development value of about RM6 billion.

Glomac shares closed down half a sen or 1.6% to 32 sen on Thursday, giving the group a market capitalisation of RM252.15 million.

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