KUALA LUMPUR: Eastern & Oriental Bhd
(E&O) recorded an improved net profit of RM221.21mil in FY26 on the back of record property sales of RM1.4bil.
The property developer added that unbilled sales reached RM1.7bil, with the strong sales performance providing healthy earnings visibility for the group and reflecting sustained demand across its key developments in Penang and the Klang Valley.
In a results announcement, E&O said its annual bottomline climbed 31% from RM168.65mil in the previous year.
Revenue in FY26 rose 17% to RM867.64mil from RM741.08mil over the one-year period, driven mainly by revenue recognition from ongoing developments as well as contributions from newly launched projects.
According to E&O, its property segment remained the key contributor to its overall performance, delivering a 20% year-on-year (y-o-y) increase in revenue to RM753.9mil.
It said the stronger performance was underpinned by healthy construction progress and robust sales contributions from developments across Andaman Island in Penang as well as the Klang Valley projects.
"We are pleased to close FY2026 with encouraging operational momentum, marked by record revenue, profitability, property sales and unbilled sales performance.
"As we continue to advance the Andaman Island masterplan and strengthen our development pipeline, our focus remains on disciplined execution, product differentiation and delivering long-term value to our stakeholders," said managing director Kok Tuck Cheong.
He said the group plans to launch two additional residential projects in the coming financial year, while continuing to explore commercial development opportunities within Andaman Island.
