LBS Bina's 2Q pre-tax profit up RM20 million

KUALA LUMPUR: LBS Bina Group Bhd posted a pre-tax profit of RM20 million for its second quarter ended June 30, 2012, an increase of 39 per cent compared with the previous corresponding quarter's result.
Revenue rose by 27 per cent to RM128 million.

The improved revenue was attributed to progressive recognition of revenue and profit contribution from the group's on-going projects, it said in a statement On Aug 29.

It said its property projects such as D'Island Residence and The Lake Residence in Puchong, Topaz III & IV, Ivory Residences II, Indigo Homes, Magenta Homes, Camelia Cottage, Pearl Villa, Royal Ivory and I Hub Puchong in Bandar Saujana Putra continued to enjoy good take up rates.

Other commercial and industrial development projects such as Taman Perindustrian Tasik Perdana in Puchong and Saujana Business Park have been fully sold, it said.

With the group's 19 on-going projects and unbilled sales of approximately RM748 million as at July 31, 2012, the group is confident of achieving further improvement in its performance for the financial year ending Dec 31, 2012. -- Bernama