Avaland's 1Q net profit soars to RM21m on higher revenue
Avaland chief executive officer Apollo Bello Tanco said the company looks to sustain its momentum built from last year.
Avaland chief executive officer Apollo Bello Tanco said the company looks to sustain its momentum built from last year.
More than a dozen analysts covering the stock raised their target prices to also account for the stronger-than-expected results announced on Tuesday.
But the declines in topline contribution were offset by higher year-on-year revenue across the group’s other segments, led by the road maintenance and property development divisions.
On prospects for the quarters ahead, KLCC Stapled Group said Suria KLCC maintains a positive outlook despite heightened competition, while Mandarin Oriental is strategically positioned to leverage the favourable economic climate, strengthening its collaboration with KLCC precinct partners.
Its property segment recorded a six-fold jump in profit before tax to RM33.
Its group managing director Datuk Azmir Merican Azmi Merican said the group’s financial result for the first quarter ended March 31, 2024 (1QFY2024) serves as a strong testament to the effectiveness of having a good product mix as a tool to fortify margins.
The data centre in Malaysia will be situated on a 49-acre (19.
The group maintained a gross gearing ratio of 0.
LBS Bina said the property development segment remained its largest revenue contributor, at 96% or RM327 million of the group’s total revenue.
Avaland Bhd chief executive officer Apollo Bello Tanco: “This remarkable accomplishment has been further recognised when we managed to secure GreenRE Gold certification for Amika Residences, which is a testament of our continued dedication to develop sustainable projects.