Radium Development Berhad has shared financials ahead of its listing on the Main Market, for FY2022 the group achieved a profit before tax of RM147.26 million and a profit after tax of RM101.44 million. It also saw its revenue decrease to RM336.41 million compared to RM563.69 million in FYE2021, which it said was mainly due to the completion of projects in FYE2021 such as the Residensi Semarak Platinum project which was completed in October.
For the quarter of FYE 2023 the group recorded a revenue of RM25.29 million attributing the decrease in revenue to lower revenue recognised from the ongoing Vista Sentul Residences project and the newly launched R Suites Chancery Residences project in February 2023. As a result, its PBT and PAT for the quarter were RM3.52 million and RM2.28 million, aligning with the lower revenue recognised and the Group’s branding activities incurred during the Chinese New Year period to enhance its corporate identity.
The group’s total equity stood at RM385.86 million, while loans and borrowings amounted to RM99.57 million. Additionally, Radium achieved a net cash position with cash and short-term deposits totalling RM105.00 million as of the same date.
This strong cash flow performance enabled Radium Group to maintain healthy cash and cash equivalents positions
of RM111.57 million and RM95.83 million, over the past two financial years, sets the stage for its listing on the Main Market
The group proposes to declare a single-tier first interim cash dividend of 1.00 sen per ordinary share based on the enlarged issued share capital of 3,468,000,000 shares (approximately RM35.00 million) upon listing in respect of the financial year ending 31 December 2023 in the second quarter of 2023. The entitlement and payment date will be determined at a later stage.
