Lagenda to ride on improving Perak economy in Q4

In a filing with the stock exchange, Lagenda, which focuses on affordable housing, said the net profit in the three-month period dropped to RM45.54mil as compared to RM49.81mil a year earlier. Revenue dropped 4.89% y-o-y to RM185.22mil.(File pic shows on of the many Lagenda properties projects.)

PETALING JAYA: Perak developer Lagenda Properties Bhd is likely to have a better fourth quarter (Q4) as the economy in the state remains open and construction activity picks up momentum.

Hong Leong Investment Bank’s (HLIB) research arm said following Perak’s migration to phase four of the National Recovery Plan early this month, the company is expected to recognise higher progress billings.