PETALING JAYA: LBS Bina Group Bhd has set a higher property sales goal of RM1.60bil for this year.
The award-winning property developer goals to attain the goal by way of 14 new mission launches with a gross growth worth (GDV) of RM1.77bil.
“Property development will continue to be our core business.
“In 2021, we surpassed our property sales target by 31%, hitting RM1.58bil as compared to our initial target of RM1.20bil. This is a great start to 2022,” mentioned LBS government chairman Tan Sri Lim Hock San.
“We are confident that our launches will continue to receive strong responses, given the strategic locations,” he mentioned.
“Further, with the roll-out of the vaccination booster shots, it appears that the days of lockdowns are out of sight.”
The developer has revealed this in its announcement of its fourth quarter outcomes for the monetary year ended Dec 31, 2021 (Q4FYE2021).
For the interval beneath evaluate, LBS reported a income of RM441.84mil. This interprets to a year-on-year enhance of fifty%.
The Group recorded a revenue after tax (PAT) of RM46.38mil for Q4FYE2021, a powerful 41% enhance as in comparison with Q4FYE2020.
For FYE2021, income elevated by 24%, year-on-year, from RM1.10bil to RM1.36bil.
The RM1.36bil income is LBS’ highest ever achieved. The PAT elevated by 76%, from RM67.29mil to RM118.70mil.
The robust FYE2021 efficiency was attributed to the progressive digitalisation efforts by the Group resembling LBS’ Virtual Property Page, Raikan Rezeki Bersama LBS and Vacci-Nation Bonanza digital campaigns, in addition to in-demand merchandise which have been well-received by the general public.
On the property growth entrance, which is the Group’s foremost earnings contributor, income elevated to RM1.30bil, leading to a 26% enhance year-on-year.
The respective enhance was the tip results of good take up charges and regular development progress at ongoing tasks resembling Residensi Bintang Bukit Jalil, Alam Awana Industrial Park, Cameron Centrum, KITA @ Cybersouth and LBS Alam Perdana.
LBS at present has 18 ongoing growth tasks with an estimated GDV of RM5.3bil. The landbank of two,744 acres, as at Dec 31, final year will preserve the Group busy for the following 10 years. Unbilled sales of RM2.30bil will contribute positively to the Group’s income over the following two to 3 years.
Commenting on the outcomes, Lim mentioned, “FYE2021 has turned out to be an exceptional year for LBS.
“Our numbers reached an all-time high. Nevertheless, I hope that our financial results are a testament of the direction LBS is heading towards and that the general public and our shareholders keep their faith in us.
He also said that, “In 2022, we will remain true to our three main pillars of Affordability, Connectivity and Community.
“The LBS team is motivated to rise to the challenge of delivering developments in strategic locations while maintaining affordable prices to meet homebuyers’ needs and to win their trust.
“We will continue to monitor the market and implement appropriate strategies to ensure our operations are not disrupted.
“We remain optimistic of our growth prospects for 2022,” he added.
