PETALING JAYA: Country View Bhd
is reiterating its cautious outlook on the prospects for the Johor property market due to the impact and repercussions from the uncertain developments from the war in the Middle East.
Releasing its results yesterday for the second quarter ended May (2Q26), the group saw net profit rise by 15.3% year-on-year to RM21.1mil, even though revenue fell 18.9% to RM83.4mil.
Country View said the softer turnover was due to a lower number of properties that were sold, but attributed the progress of work on the units sold for the Aurora Avenue three-storey semi-detached shops at Aurora Sentral, together with the contribution from the sales of a piece of commercial land designated for petrol station located in Taman Nusa Sentral in Iskandar Puteri.
For the six months ended May, bottom line was down 14.4% to RM41.4mil, in line with turnover which slid 16% to RM182.2mil.
