LBS Records Rm112 Million Revenue in First Quarter
LBS Bina Group Berhad (LBS or the Group) today announced its unaudited results for the first financial quarter ended 31 March 2012:
Review of Group performance
For the three months ended 31 March 2012, the Group recorded revenue and profit before tax (PBT) of approximately RM112 million and RM14 million respectively. These represent a 46 per cent increase in revenue and 8 per cent decrease in PBT over the results achieved in the corresponding period in year 2011.
The improved revenue for the current quarter is attributable to progressive recognition of revenue and profit contribution from its on-going projects. LBS developments such as D’ Island Residence and The Lake Residence in Puchong, Topaz III & IV, Ivory Residences II, Indigo Homes, Magenta Homes, Camelia Cottage, Pearl Villa, Royal Ivory and I Hub Puchong in Bandar Saujana Putra (BSP) as well as other commercial and industrial projects such as Taman Perindustrian Tasik Perdana in Puchong and Saujana Business Park in BSP continue to enjoy good take up rates.
The decrease in PBT by RM1.2 million was mainly due to increase in project costs.
Prospects for the current financial year
The Board is pleased to report that as at 29 May 2012, the Group has achieved sales of approximately RM413 million.
With the Group’s 20 on-going projects and unbilled sales of approximately RM715 million as at 30 April 2012, the Group is confident of achieving further improvement in its performance for the financial year ending 31 December 2012.
About LBS Bina Group Berhad (LBS)
LBS began with one man’s vision in the 1980s – founded as a construction business by Dato’ Seri Lim Bock Seng. After a decade of rapid growth, LBS ventured into the property development sector in 1992 where it started its first project of Jelapang Maju Light Industrial Park in Jelapang, Ipoh. Within a few years, its stable of projects established LBS as a reputable developer and a dominant player in Malaysia’s property sector.
More recently, the Group re-strategized its business model, launching a brand new image, identity and direction as part of its long term objective to be an internationally recognised developer, building and inspiring lifestyle spaces that enhance community living.
As part of this new direction, the Group has extended its portfolio of quality homes to the high-end market and has embarked on a progressive journey of change, which includes the areas of product, customer experience, after-sales services, sustainability, green technology and design.
For more information about LBS visit www.lbs.com.my or call 03-7877 7333.