Glomac’s balance sheet remains robust

Glomac will be launching RM282mil of new products this year, which it noted was timely considering that most of the group’s launched residential products are almost sold and economic restrictions are also easing.

PETALING JAYA: Glomac Bhd saw its net profit for the first quarter ended July 31, 2021 (Q1) declining to RM1.73mil compared to a net profit of RM4.39mil a year ago amid a difficult operating environment due to the Covid-19 pandemic.

Revenue came down to RM28.84mil from RM46.87mil previously. Revenue for the quarter was driven by ongoing phases in Saujana Perdana, Plaza@ Kelana Jaya, Saujana Rawang, Lakeside Boulevard and 121 Residences.