Lagenda Properties which is predominantly involved in affordable homes registered revenue of RM251.1 million for Q4 2021, which was 36% and 47% above the revenue recorded in the two preceding quarters for the year.
Profit after tax stood close at RM56.4 million as compared to RM45.5 million in 3Q2021. For the twelve months, the group’s revenue increased by 20% to RM835.5 million as compared to the previous financial year, and PATAMI increased by 42% to RM200.5 million.
Unbilled sales were at RM604 million while outstanding bookings reached RM649 million. The solid results prompted Lagenda to declare a second interim dividend of 3.5 sen per ordinary share. To date, total dividends declared in respect of FY2021 aggregates to RM53.9 million, representing a payout ratio of 27%.
Commenting on the latest performance, Managing Director Dato’ Jimmy Doh said “Our cumulative sales and bookings for the year up to 31 December 2021 was RM1.4 billion. We consider this a commendable performance, given the continued challenges posed by the pandemic in FY2021.
Moving forward, the group will continue to build affordable homes and is looking to become a Nationwide Affordable Township Developer taking the concept to every state. The group has arrangement with Inta Bina Group Berhad to undertake construction work for projects outside Perak. Its net cash position and low gross gearing of 0.23 times augur well for further expansion and land acquisition opportunities.
