Strong sales, new launches poised to lift Glomac’s earnings

PETALING JAYA: Analysts are keeping their positive outlook over Glomac Bhd, buoyed by the group’s uplifting sales figures over its first fiscal quarter (1Q24) and its own optimistic perspective of the local property industry.

MIDF Research is expecting Glomac’s earnings to pick up in the second half of the fiscal year ending April 30, 2024 (2H24) due to pick up in progress billing of its unbilled sales.