Bina Darulaman 3Q profit falls to RM5.45m, despite higher turnover

KUALA LUMPUR (Nov 6): Bina Darulaman Bhd (BDB) saw its net profit for the third quarter (3Q) ended Sept 30 decline 6.67% to RM5.45 million from RM5.84 million in the previous corresponding quarter, despite recording higher turnover for the period.

Revenue for the quarter rose 21.5% to RM85.5 million from RM70.36 million last year as the group saw improved performances in its construction, property, road and quarrying divisions.

"The construction division was the biggest contributor of revenue and profits through higher progress billings for the Kolej Universiti Insaniah (KUIN) and other ongoing projects," said BDB in a Bursa filing today (Tuesday).

Meanwhile, for the nine month period ended Sept 30, BDB posted a 53.28% growth in net profit to RM18.7 million from RM12.2 million on the back of a 64.26% increase in revenue to RM234.07 million compared to RM142.5 million previously.

Looking ahead, the group is expecting a respectable performance for the rest of the financial year encouraged by sustainable contributions from its road and quarry division, sufficient construction jobs as well as encouraging response for its property launches.

"The group’s core businesses are expected to return respectable performance for the current year despite a host of circumstances surrounding the economy both local and international, " said BDB.