PETALING JAYA: Fajarbaru Builder Group Bhd
is keeping its focus on its core segments of construction, property development and plantation, in order to maintain a stable revenue stream.
While remaining vigilant in navigating external challenges, such as rising interest rates and other uncertainties anticipated in the current financial year, the group reiterated its confidence that its divisions are well-equipped to capitalise on emerging opportunities within their key business areas.
For its first quarter ended Sept 30, 2024 of financial year 2025 (1Q25), Fajarbaru Builder Group saw net profit triple on a year-on-year (y-o-y) basis to RM8.4mil, as revenue also nearly doubled to RM136.4mil.
In a filing with Bursa Malaysia, it said the higher revenue was mainly contributed by its property development and construction segments, while the improved profit was mainly attributed to the property development division.
“The higher turnover registered in the current quarter was mainly due to the newly awarded projects that had started to progressively contribute revenue to the construction segment, compared to the corresponding quarter in the preceding year when these newly awarded projects are still in their infancy stage,” it said.
Meanwhile, it added that the improvement in earnings in the current quarter was mainly contributed from its Vierra Residence @ Kinrara development project, which showed incremental growth in the development work progress as compared to the same quarter of last year.
Compared to the preceding three months ended June 30, Fajarbaru Builder Group also posted a 74% growth in net profit from RM4.8mil, even though revenue slid 12% from RM155mil.
Notably, the group had declared a dividend of one sen per share during 1Q25, doubling what it had proposed during the corresponding period of the previous financial year.
Moving forward, Fajarbaru Builder Group said its construction segment remains steadfast in its aim to deliver ongoing projects efficiently and on schedule, while also remaining committed to its long-term strategic growth plan for the property development segment in Malaysia.
