KSL Holdings FY18 net profit rises to RM224.09 mil

TheEdge Fri, Mar 01, 2019 12:12am - 5 years View Original


KUALA LUMPUR (Feb 28): KSL Holdings Bhd’s net profit rose to RM224.09 million in the financial year ended Dec 31, 2018 (FY18) from RM220.57 million in the previous year.

Revenue increased to RM709.45 million from RM697.5 million previously.

In a filing with Bursa Malaysia today, KSL said for the fourth quarter of 2018, group revenue and profit before taxation stood at RM241.3 million and RM143.1 million, respectively.

“The increase in revenue and profit was mainly contributed by the change in the sales mix and the percentage of completion of the group’s major on-going projects, especially in Johor Bahru and Klang,” it said.

On prospects, KSL said it planned to continue developing residential and commercial properties in Johor Bahru, Segamat, Kluang and Muar.

It said the group would continue to build a wide-range of premium quality products, ranging from deluxe residences with top-class finishes and facilities to small-to-medium sized units with practical and efficient layouts.

“These developments are anticipated to further strengthen our foothold in Johor's landed property market.

"Besides, the group is in the midst of developing the land held in Klang and is expecting a gross development value of RM10 billion with ten main development phases,” KSL added.

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