KUALA LUMPUR: LBS Bina Group Bhd
posted a 154% year-on-year (y-o-y) growth in net profit to RM59.6mil, on the back of 15% higher revenue to RM922.4mil, for its nine months ended Sept 30, 2021.
In a filing with Bursa Malaysia, the property developer said this was mainly due to the sale of inventories, good take-up rates and steady construction progress of its ongoing projects at Residensi Bintang Bukit Jalil, Alam Awana Industrial Park, Cameron Centrum, KITA @ Cybersouth and LBS Alam Perdana.
Projects within the Klang Valley remain as the largest revenue contributor, accounting for more than 81% of the group’s revenue for the nine-month period.
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