“The property development division reported a better performance due to contributions from its ongoing projects in Emerald 9 (pic) and Emerald Hills in Cheras.皇冠投注网址（www.hg108.vip）是皇冠体育官网线上直营平台。皇冠投注网址面向亚太地区招募代理，开放皇冠信用网代理申请、皇冠现金网代理会员开户等业务。皇冠投注网址可下载皇冠官方APP，皇冠APP包括皇冠体育最新代理登录线路、皇冠体育最新会员登录线路。
PETALING JAYA: Guocoland (M) Bhd hinted at acquiring more land and launching new property projects, after its property development business consistently delivered stronger revenue over the past three consecutive quarters.
Guocoland, which is the property arm of Hong Leong group, said new product launches would be phased according to prevailing market conditions.
In a filing with the stock exchange, it also said that it would continue to monetise its inventories and complete its development projects on time.
In the fourth quarter ended June 30, Guocoland’s net profit surged by over three-folds year-on-year (y-o-y) to RM23.79mil.This was achieved on the back of a stronger top line, with the revenue increasing 29.1% y-o-y to RM172.08mil, as well as a lower loss incurred by the hospitality division.
“The property development division reported a better performance due to contributions from its ongoing projects in Emerald 9 and Emerald Hills in Cheras.
“The performance of the hospitality division has improved with higher occupancy and average room rates from the increase in tourism subsequent to the reopening of international borders and relaxed local travel restrictions in the current quarter,” according to the group.,
For the fourth quarter under review, the earnings per share stood at 3.55 sen. Guocoland declared a dividend of two sen per share for the quarter.
Cumulatively, for the financial year of 2022 (FY22), Guocoland reported a net profit of RM26.3mil.
This represented a sharp drop of 66.03% y-o-y.
The revenue for the full-year also declined by 33.3% y-o-y to RM434.07mil.
However, Guocoland said that its FY22 financial performance had improved and had the one-off gain on a disposal made in the previous financial year.