PETALING JAYA: Bina Darulaman Bhd swung back to the black for the first quarter ended March 31, with a net profit of RM418,000 from a net loss of RM5.85 million a year before, on improved performances from its property and road building & quarry divisions.
Revenue rose 17.7% to RM46.22 million, from RM39.29 million previously.
The property division contributed higher revenue of RM29 million to the group, compared to RM17.6 million previously on higher sales to clear its existing stocks as well as steady construction progress in Bandar Darulaman and Bandar Sejahtera townships.
The road building and quarry division posted higher revenue of RM6.6 million in the current quarter, mainly due to higher sales of premix products and road maintenance activities.
Its engineering and construction division posted higher profit before tax of RM3 million compared to RM1.4 million last year due to saving on its completed projects, while the leisure and hospitality division was impacted by the movement control order, recording a higher loss before tax of RM1.2 million.
Looking ahead, the group said as part of fostering Kedah state’s economic growth, the government is planning several infrastructure projects.
“There is a strong likelihood that the group will benefit from any of the upcoming federal and Kedah state-linked initiatives. This will help BDB to replenish its construction order book and improve its earning visibility.
“The group is also exploring recurring income projects which may provide sustainable income to the Group in the middle to long term period,” it said.
source https://www.thesundaily.my/business/bina-darulaman-back-in-the-black-for-first-quarter-DY2616445
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