Binastra FY24 Profits Surge 146% To RM40.8 Million Backed By Strong Property Growth

Binastra Corporation Berhad announced its results for the fourth quarter and full year ended 31 January 2024 recording an increase of 110.6% in revenue to RM155.4 million, compared to the corresponding quarter last year. Profit before tax (“PBT”) and profit after tax (“PAT”) were RM20.4 million and RM15.4 million, which translated to a growth of 150.8% and 176.3% respectively it said.

For FYE2024, the Group’s revenue increased by 130.0%, year on year, to RM425.2 million. Additionally, PBT and PAT were RM55.1 million and RM40.8 million respectively, representing a surge of 134.2% and 146.8%. The strong growth was primarily attributed to higher construction activities in condominium and housing projects across Klang Valley.

As of 31 January 2024, Binastra’s outstanding order book stood at approximately RM1.4 billion, demonstrating the Group’s ability to capitalise on the flourishing real estate market and build a solid foundation for future growth. Moreover, the Group has a strong balance sheet with a positive net cash position.

The Group officially changed its name to Binastra Corporation Berhad, effective 8 March 2024. The new stock short name “BNASTRA” has been introduced as part of the corporate rebranding exercise.

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