Lagenda Properties Berhad reported its second quarter financial registering revenue of RM196.4 million, an increase of 8.5% as compared to RM181.0 million achieved in the first quarter of this year, attributed to better sales conversion. Profit after tax and minority interest during the quarter was RM33.2 million as compared to RM39.3 million in 1Q2023. PATAMI was higher in the preceding quarter mainly due to a revaluation surplus amounting to RM4.8 million.
Demand for the group’s homes continued on a strong trajectory in 2Q2023 and recorded confirmed sales of RM507.0 million in the first half of the year, surpassing last year’s achievement by 42%, driven by Darulaman Lagenda in Kedah. Revenue and earnings visibility is further underscored by unbilled sales amounting to RM811.2 million as of 30 June 2023, while bookings of RM347.6 million provide a solid pipeline for future sales.
The group has declared a first interim single-tier dividend of 3.0 sen per ordinary share which will be paid on 25 September 2023. The total dividend payout amounts to RM25.1 million, representing a payout ratio of 35% for the six months ended 30 June 2023.
