Crescendo Corporation reported its Q2 revenue and profit before tax recording RM321 million and RM187 million respectively for the ending 31 July 2024 and a record-high of RM849 million and RM570 million respectively for the first half of financial year 2025 mainly contributed by the data center land sales in Nusa Cemerlang Industrial Park.
The revenue and operating profit recorded RM291 million and RM183 million respectively for the current quarter ended 31 July 2024 and a record-high of RM802 million and RM565 million respectively for the first half of financial year 2025 it said was mainly due to the revenue and profit from data center land sales in NCIP which contributed more than 75% of the revenue and operating profit of this operation.
However, the revenue and profit before tax for the current quarter ended 31 July 2024 decreased to RM321 million and
RM187 million respectively as compared to the immediate preceding quarter mainly due to less revenue from data center land in NCIP in the current quarter.
The increases in revenue and operating profit were mainly contributed by three additional rented units commencing from the fourth quarter of the last financial year.
On prospects, the group is optimistic with the property market outlook, especially in Johor, in the next few years. However the
Group remains cautious amidst the rapid changes in the market environment. Fluctuation in building materials cost driven by inflationary pressure pose significant challenges for property developers.
With the influx of foreign direct investments to Johor, demands for industrial properties remain strong and are expected to grow in the coming years. The ongoing RTS project will serve as a catalyst to revitalise Johor Bahru City Centre
development and the property development in the vicinity of the terminal at Bukit Chagar will benefit.
The proposed Johor-Singapore special economic zone(“JS-SEZ”) in Johor is expected to foster stronger business ties and attract investments, boost cross-border flow of goods and people and benefit the economies of both Malaysia and Singapore. The extent of economic benefits the project may have on Johor will be clearer once the details of JS-SEZ are announced by the authorities.T
The Board declares an interim single tier dividend of 1 sen per share and a special single tier dividend of 5 sen per share in respect of the financial year ending 31 January 2025.
