Lagenda Properties Berhad for the first nine months of the year saw its revenue increase by 8% YoY to RM632.0 million and profit after tax and minority interest was RM133.1 million.
In 3Q2022, the developer registered a slight 2% decrease in revenue to RM180.7 million, compared to RM185.2 million achieved in 3Q2021. PATAMI for 3Q2022 was RM35.7 million as compared to RM45.5 million in a similar quarter of the preceding year. The decline in PATAMI was mainly due to upfront costs incurred in preparation for multi-states project launches in the coming quarters and the provision for prosperity taxes. The group also announced the adoption of a dividend policy to payout at least 25% of its consolidated PATAMI as dividends, which will be effective in FY2022 and reviewed every two years.
Managing Director of Lagenda, Dato’ Jimmy Doh said “Our bookings and sales momentum continued to be healthy in 3Q2022. As of 30 September 2022, the Group’s unbilled sales stood at RM653.6 million and the majority of this will translate into revenue in the coming quarters. We currently have a presence in two states and aim to venture into two additional new states in 2023.
