Strong sales lift Plenitude’s earnings


Public visit Plenitude booth at The Star property fair. (file pic)

PETALING JAYA: Plenitude Bhd swung back to the black, with a net profit of RM8.15mil for the fourth quarter of its financial year ended June 30, 2021 (Q4’21), compared with a net loss of RM2.57mil in Q4’20.

During the quarter in review, the property and hospitality group saw its revenue jump almost six-fold to RM71.19mil from RM12.15mil in Q4’20 due mainly to higher sales of properties and higher contribution from on-going development properties.

Cumulatively, Plenitude’s net profit rose 46% to RM11.94mil for FY21 from RM8.17mil in FY20, while revenue increased to RM208.49mil from RM188.84mil.

As for the year ahead, Plenitude said the overall outlook for the group’s property and hospitality businesses remained challenging due to the protracted and evolving Covid-19 situations worldwide. “The group will continue to monitor the current volatility and uncertainty closely and adopt a more cautious approach in new property launches,” it said.

“With the progressive rollout of the mass vaccination programme by the government, barring any unforeseen circumstances, the group envisages its hotel division, will begin to recover with the anticipated relaxation of local travel restrictions,” it added.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Plenitude , earnings , revenue , sales , property ,

   

Next In Business News

Oil falls on uncertainty over fuel demand recovery
Asian shares bounce as China moves to boost housing
IMF urges Asia to be mindful of spillover risks from tightening
Shanghai economy hit on all sides in April by Covid lockdown
Sime Darby Plantation's 1Q net profit lifted to RM718mil on higher CPO, PK prices
Pharmaniaga posts net profit of RM27.72mil in 1Q, declares 0.8 sen div
FBM KLCI stays positive amid volatility in plantations stocks
MPIC in the midst of discussions with MoF to slash palm oil export tax
Khazanah partners SK ecoplant to help grow waste management services unit
Ringgit rebounds against US$ at opening

Others Also Read