Bolton's record RM585 million sales in FY2011

PETALING JAYA: Bolton Bhd has achieved its highest ever sales ever in its 47-year history with a record  RM585 million for its financial year ended March 31, 2011 (FY2011). This impressive sales feat represents a 125% increase from the RM260 million sales recorded in the previous financial year (FY2010).

Contributing to the Group's performance were three key projects launched in FY2011 – The Wharf, Arata and sixceylon. The Wharf is a lakefront commercial development on a 15-acre parcel in Puchong and features boutique showroom offices, serviced apartments and a state-of-the-art retail mall. Arata is a 100-unit condominium project located in Bukit Tunku and is the final phase of the Tijani residential development. Meanwhile, sixceylon features 215 bite-size residential units within a 33-storey block situated in the heart of Kuala Lumpur’s Golden Triangle.

Executive chairman Datuk Azman Yahya said in a statement on May 23 that demand for the Group’s products have remained strong in spite of a slew of residential and commercial properties launched by its competitors in Klang Valley.

“Based on the sustained positive sales performance from the Group’s entire product range as well
as our new launches slated over the next couple of months, we are confident we will be able to
achieve even better results for the current financial year,” Azman added.

For the fourth quarter ended March 31, 2011, Bolton recorded a revenue of RM87.5 million (RM74.2 million in 4Q FY2010) and profit before tax of RM4.8 million compared with RM16.7 million in 4Q FY2010). On a cumulative year basis, the Group recorded revenue of RM243.2 million in FY2011 (RM257.5 million for FY2010) and profit before tax of RM20.3 million (RM50.7 million for FY2010).

Despite the strong sales achieved in FY2011, net profit was lower at RM11.9 million compared with RM34.4 million recorded in FY2010 as accounting standards dictate that all marketing expenses associated with sales should be recorded up front.

Going forward, for the current financial year, the Group will preview new launches such as Tijani
Ukay and 51G Kuala Lumpur, as well as The Wharf Residence. Tijani Ukay is an upmarket gated
landed residential development in Ukay Perdana while 51G is Malaysia’s first and only super luxurious condominium that comes complete with a spacious driveway on every floor and a car port within every unit. The Wharf Residence is a 1,002 unit serviced apartment which forms part of the integrated The Wharf “Neighbourhood Lifestyle Destination” development.

“We will be launching another RM1 billion worth of properties in terms of gross development
value this year. This promises to be our best year yet,” said Azman.

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