Better results expected for Glomac in H2 next year

TA Securities Research said on its report that Glomac’s solid balance sheet and remaining gross development value of RM8bil primarily within the Klang Valley should allow the group to accelerate its new launches in Q4’FY22 once market sentiment improves.

PETALING JAYA: Glomac Bhd is expected to perform better in the second half of its financial year ending April 30, 2022 (H2’FY22), although earnings weakness could likely persist in the second quarter (Q2’FY22).

TA Securities Research said: “We believe the group will perform better in H2’FY22, given that it has just resumed full operations following the recent easing of economic restrictions, which allow construction activities to re-commence and sales galleries to reopen.”