PETALING JAYA: Plenitude Bhd
attributed its lower earnings for the second quarter of financial year ending June 30, 2026 (2Q26) to weaker performance by its property development division.
In a filing with Bursa Malaysia, the company posted a net profit of RM26.25mil or earnings per share (EPS) of 6.9 sen on revenue of RM139.2 mil for the 2Q26 versus earnings of RM35.4mil or EPS of 9.3 sen and revenue of RM171mil in 2Q25.
Plenitude's property development division contributed lower revenue of RM68.6mil in 2Q26 compared to RM102.5mil in the corresponding quarter of the previous financial period due to lower sales from completed projects, including Cello 3C double storey terrace houses at Taman Desa Tebrau, Johor Bahru, Hibiscus double storey terrace houses at Impian Hills, Ulu Tiram, Johor and Bintang Ria shop offices in Sungai Petani, Kedah.
Additionally, the 2Q25 also included the completion of a land sale in Taman Desa Tebrau, Johor Bahru.
Plenitude's hotel operations recorded a revenue of RM69.7mil in 2Q26 versus RM67.6mil in 2Q25 on higher hotel business attained particularly from Holiday Villa Resort & Beachclub Langkawi, as well as overseas hotels, namely Travelodge Myeongdong Namsan and Travelodge Myeongdong Euljiro in Korea.
As result of the weaker property sales in 2Q26, Plenitude’s total revenue for the first half of the financial year (1H26) eased to RM299.7mil from RM307mil in 1H25. Earnings for the 1H26 however rose to RM59.2mil or EPS of 15.5 sen from RM57.5mil or EPS of 15.1 sen in 1H25.
Plenitude noted its hotel division is expected to remain resilient, supported by the Visit Malaysia 2026 campaign but the property business faces building cost pressures due to the implementation of the expanded Sales and Services Tax (SST) on construction work services.
