KUALA LUMPUR: LBI Capital Bhd
sees continued challenges over the remainder of the year as the current high inflation rate and expected increases in interest rate are expected to directly affect the property development business.
Further, the property developer noted the ongoing interruption in the supply chain and labour availability are expected to drive up construction costs.
In the third quarter ended Sept 30, 2022, LBI Capital recorded a net profit of RM423,000, which was about twice the net profit in the same quarter a year ago.
Basic earnings per share rose to 0.38 sen from 0.2 sen in 3QFY21
The group reported revenue of RM12.96mil in the quarter under review, up from RM7.98mil in the comparative quarter, on higher contribution from its turnkey project management contract and sale of its completed properties.
For the nine months period to Sept 30, 2022, the group posted net profit of RM137,000, on revenue of RM20.62mil as compared with net profit of RM140,000 and revenue of RM12.69mil in the year-ago period.
