“The property development division reported a better performance due to contributions from its ongoing projects in Emerald 9 (pic) and Emerald Hills in Cheras.新2查账网址（www.hg108.vip）提供新2网址和新2最新网址,包括新2手机网址,新2备用网址,皇冠最新网址,新2足球网址,皇冠新2网址,新2管理网址,新2网址大全,hg0088.com,hga038.com,同时开放新2信用平台查账功能.
PETALING JAYA: Guocoland (M) Bhd hinted at acquiring more land and launching new property projects, after its property development business consistently delivered stronger revenue over the past three consecutive quarters.
Guocoland, which is the property arm of Hong Leong group, said new product launches would be phased according to prevailing market conditions.
In a filing with the stock exchange, it also said that it would continue to monetise its inventories and complete its development projects on time.
In the fourth quarter ended June 30, Guocoland’s net profit surged by over three-folds year-on-year (y-o-y) to RM23.79mil.This was achieved on the back of a stronger top line, with the revenue increasing 29.1% y-o-y to RM172.08mil, as well as a lower loss incurred by the hospitality division.
“The property development division reported a better performance due to contributions from its ongoing projects in Emerald 9 and Emerald Hills in Cheras.
“The performance of the hospitality division has improved with higher occupancy and average room rates from the increase in tourism subsequent to the reopening of international borders and relaxed local travel restrictions in the current quarter,” according to the group.,
For the fourth quarter under review, the earnings per share stood at 3.55 sen. Guocoland declared a dividend of two sen per share for the quarter.
Cumulatively, for the financial year of 2022 (FY22), Guocoland reported a net profit of RM26.3mil.
This represented a sharp drop of 66.03% y-o-y.
The revenue for the full-year also declined by 33.3% y-o-y to RM434.07mil.
However, Guocoland said that its FY22 financial performance had improved and had the one-off gain on a disposal made in the previous financial year.