KUALA LUMPUR: Mah Sing Group Bhd
said its property sales in the first half of 2025 (1HFY25) climbed 12.4% to RM1.15bil as as compared to sales in the first six months of last year.
Bolstered by the successful launches of its M series of projects, the higher property sales underpinned the group's 1HFY25 revenue of RM1.22bil, up from RM1.14bil in the year-ago period, as well as net profit of RM132.06mil, as compared to RM120.26mil in 1HFY24.
Segmentally, operating profit from the property development business was RM211.5mil on the back of revenue of RM983.8mil.
Meanwhile, the group's manufacturing segment posted revenue of RM222.2mil, which was a 10.8% increase over the same period in the previous year.
During the second quarter of 2025 (2QFY25), Mah Sing's net profit came to RM66.02mil, against RM60.21mil in the year-ago quarter, while earnings per share rose to 2.58 sen from 2.37 sen previously.
Revenue during the quarter under review was RM565.92mil compared to RM578.39mil in the year-ago quarter.
"This demand is reflected in recent launches and registration of interest such as M Legasi in Semenyih, where Phase 1A and 1B of Impira double-storey terrace houses recorded over 80% take-up rate, and M Grand Minori, a mixed-use residential and commercial development in Taman Pelangi, Johor Bahru, where Phase 1 of Tower A serviced apartment achieved a 90% take-up rate," it said in a statement.
The group is confident of achieving its minimum full-year sales target of RM2.65bil as it anticipates historically stronger second-half sales, underpinned by upcoming new property launches worth RM1.85bil as well as continued sales momentum from projects already launched.
It added that unbilled sales as at end-June 2025 stood at RM2.91bil.
"With a solid footing in the affordable housing segment through the M Series developments, complemented by the new premium M Grand Series, the group is confident of delivering sustainable FY25 earnings.
"The data centre portfolio is expected to enhance long-term earnings through recurring income and value unlocking opportunities," said Mah Sing in its outlook.
