Glomac registers RM28.3mil profit in FY21


KUALA LUMPUR: Property firm Glomac Bhd made a net profit of RM4.8mil in the last quarter ended April 30 on higher work progress billings.

The company said its earnings outlook remained "robust" backed by total unbilled sales of RM578mil.

It said that while the Covid-19 pandemic worries continued to weigh on the industry, on-going mass vaccination, a lower interest rate environment and the extension of the Home Ownership Campaign is likely to provide a much-needed boost to the property sector in the medium term.

For the full year just ended, Glomac posted a net profit of RM28.3mil, or 3.7 sen a share. Revenue was RM366mil.

It had proposed a final dividend of 1 sen a share.

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