LBS Bina’s revenue for FY2009 dips 22% to RM203 million

KUALA LUMPUR: LBS Bina Group Bhd’s revenue for the year ended Dec 31, 2009 dipped 22% to RM203 million while profit before tax decreased by 153% to RM5.5 million from the previous year’s revenue and profit before tax.

For the fourth quarter ended Dec 31, 2009, the Group recorded revenue of RM77.3 million and profit before tax of RM4.2 million. The revenue increased by 85% while the loss before tax improved by 230% compared with the preceding quarter ended Sept 30, 2009.

The group, in a Bursa Malaysia filing on Feb 23, said: “In view of the current positive sign of regional financial recovery, the Group is developing more medium/high-end projects to cater to demand for such properties.”