LBS Bina registers revenue of RM336 million in Q3

Property developer, LBS Bina Group Berhad has announced the nine months ending Sept 30, the Group has achieved a revenue of RM802 million and profit before tax (PBT) of RM80 million, slightly lower compared to revenue of RM1 billion and PBT of RM120 million in the corresponding period last year.

The Group recorded a revenue of RM336 million and PBT of RM43 million in the Q3 ended Sept 30. The improvement was mainly attributable to the recovery of business operations and ramping up of construction activities after the uplift of the Movement Control order and Conditional Movement Control Order.

As at Nov 29, the Group registered sales of RM1.1 billion, surpassed its revised target of RM1 billion and secured bookings stood at RM244 million and pending convert these bookings into sales.

“The sales & booking performance proved that the Group’s offering right products that cater to market demand. Not only that, our current marketing campaign #DudukRumah Deals Plus effectively propels the sales momentum of our development projects,” said LBS Group Managing Director,  Lim Hock San.

“The reintroduction of Home Ownership Campaign (HOC) has helped more Malaysians to own a home. Moreover, with Bank Negara Malaysia (BNM) to keep the Overnight Policy Rate (OPR) at a low level, will ease the burden of homebuyers. Furthermore, we are welcome Government’s Budget 2021 initiatives as it is an expansionary and inclusive budget focused on the people’s wellbeing and economic recovery,” Lim elaborated. 

As at Nov 15, LBS has unbilled sales of RM 2.23 billion, which is substantial to the company’s revenue for the next two to three years.

LBS has 20 ongoing development projects with an estimated Gross Development Value of RM5.2 billion. 

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