KTI Landmark Bhd group managing director and CEO Datuk Dr Gordon Loke
KUALA LUMPUR: KTI Landmark Bhd has recorded strong sales of RM230mil and an order book of RM214.4mil from January to November this year.
Group managing director and CEO Datuk Dr Gordon Loke said the record sales represented an impressive 55.6% increase from the RM102.9mil in sales since the company’s listing in June.
“The record RM230mil sales achieved in the first 11 months of 2024 has also surpassed our year 2023 sales of RM132.9mil. The sales will provide earnings visibility to KTI Group for the next two years,” he said in a statement.
The integrated property developer posted a net profit of RM1mil in the third quarter ended Sept 30 (3Q24) from a net loss of RM1.9mil in 2Q24 due to the non-recurring listing expenses of RM2.3mil.
It posted a 44.7% increase in revenue to RM53mil from RM29.3mil in 2Q24 due to improved sales recorded from Plaza Lemawang 2 and Kayana Heights projects.
For the cumulative nine months to Sept 30, KTI recorded RM0.5mil million loss after tax, on a revenue of RM109.3mil.
No comparative figures were available as it was the third interim financial report released by the company in compliance with the listing requirements.
On prospects, Loke is confident that the demand for the company’s industrialised building system (IBS) construction services will continue to grow.
