PETALING JAYA: Oriental Interest Bhd
charted an 8.2% year-on-year (y-o-y) increase in net profit to RM85.2mil for the year ended Aug 31, as revenue also grew 22.1% to RM652.5mil.
The group said the improvement in yearly earnings and turnover was largely driven by strong demand for its new and ongoing development projects, particularly from key developments like Pulau Indah Industrial Plot, Myra Cove, Myra Gardens, and D’Aman Residence.
Additionally, it said enhanced progress in construction activities for external customers also helped bolster income.
For the quarter ended Aug 31, revenue saw a 4% y-o-y rise to RM209.6mil but net profit was nevertheless lower by 20.2% to RM35.6mil, which Oriental Interest attributed primarily to higher employee benefits costs and donations to support community development.
“Looking ahead, we are poised for continued growth with unbilled property sales of about RM603.45mil from our existing projects as at close of the reporting financial quarter.”
