KUALA LUMPUR: Higher revenue recognition from Eastern & Oriental Bhd
's (E&O) recently launched projects gave the group a boost its topline and profit in the first quarter of its 2027 financial year (1QFY27).
The group registered a net profit of RM58.11mil in 1QFY27 as compared to RM45.42mil in the same quarter in the previous year, on the back of revenue of RM281.47mil against RM183.51mil previously.
It said in a stock exchange filing the improved topline was owing to higher revenue recognition from recent launched projects AVÉA, Fera and Senna Phases 3 and 4, Laman Embun and Seri Embun.
This offset the decrease in revenue from joint venture projects Conlay and The Peak, which fell to RM53mil in 1QFY27 from RM71.9mil in 1QFY26. "The decrase was mainly attributable to the absence of revenue recognition from The Peak, as it achieved Certificate of Completion and Compliance in the preceding financial quarter ended March 31, 2026," said E&O.
Quarterly operating profit for the segment increased to RM83mil from RM57.4mil in the same quarter in FY26.
In the hospitality business, the group recorded revenue of RM24.7mil, a slight decrease of 1.6% year-on-year (y-o-y), while operating profit also slipped slightly to RM4.4mil in 1QFY27 from RM4.8mil over the same previous quarter.
Meanwhile, the investments and other segments recorded a lower operating profit of RM8.5mil against RM10.4mil in the same quarter in FY26, mainly due to lower management fees recognised as the projects approached completion.
According to the group, property sales more than doubled to RM356mil in 1QFY27 from RM153mil in the previous corresponding quarter. The group’s unbilled sales increased 28.4% year-on-year to RM1.7bil as at June 30, 2026.
"Looking ahead, we have two upcoming launches for the financial year 2027 consisting of a waterfront service apartment and landed homes. We will be launching these developments towards the end of the financial year," said E&O managing director Kok Tuck Cheong in a statement.
