Faber Group posts 21.8% increase in revenue for FY2009

KUALA LUMPUR: Faber Group Bhd posted a 21.8% increase in revenue for FY2009 to RM805.3 million from RM661.2 million in FY2008, while its profit before tax went up 26.6%, or RM29.7 million, to RM141.2 million for FY2009. The group’s core businesses are integrated facilities management (IFM) and property development.

In a statement released by the group on Feb 25, the growth in IFM business, both locally and in the United Arab Emirates, have contributed about 80% of the group’s income in FY2009 and IFM is set to continue being the main contributor.

For 4Q2009, the group’s revenue went up 55.6%, or RM108.6 million, to RM303.9 million from 3Q2009. Its property division contributed RM49.2 million while the IFM division contributed RM245.7 million, or 84%.

“The Group’s focused efforts on IFM overseas business expansion in the past years, particularly in United Arab Emirates is bearing positive results. At the same time, the Group has made concerted efforts to enhance operational efficiencies, product and service quality,” Faber Group managing director Adnan Mohammad said.