Glomac Bhd posted a sharp 404% jump in profit after tax (PAT) for the fourth quarter ended April 30, 2026 (4Q26), driven by stronger progress billings from its ongoing property developments and continued cost discipline.
The property developer recorded a quarterly PAT of RM12.6 million, up from RM2.5 million a year earlier, while revenue stood at RM79.8 million.
The improved performance was mainly attributed to higher construction progress recognition from the KEYS semi-detached homes, shop offices at Lakeside Residences and Saujana Perdana, as well as the Serai terrace homes at Sungai Buloh Country Resort. Earnings were further supported by prudent cost management despite ongoing external cost pressures.
For the full financial year ended April 30, 2026 (FY26), Glomac reported revenue of RM226.2 million and PAT of RM20.2 million compared to RM15.5 million in the previous year. The property development segment remained the key earnings contributor, while lower finance costs and tax expenses also supported profitability.
The group’s unbilled sales stood at RM546 million as at April 30, 2026, providing earnings visibility for the current financial year.
Looking ahead, Glomac plans to launch new projects with a combined gross development value of RM371 million in FY27. The pipeline comprises a mix of commercial and landed residential developments across its established townships.
While remaining cautious of geopolitical uncertainties, rising construction costs and inflationary pressures, Glomac has proposed a final single-tier dividend of 1.38 sen per share for FY26, subject to shareholder approval at its upcoming AGM. The proposed payout represents a dividend yield of about 4.3%.
