Glomac ... Jan11

GLOMAC recorded a higher Net Profit of RM15.9m for 2QE Oct 2010 against RM9.3m same quarter a year earlier, due to contributions from on-going progress completion from Glomac Tower and Glomac Cyberjaya. PBT for 2QE Oct 2010 almost doubled to RM32m from RM16.3m previously. Revenue for the period was 86.3% higher at RM140.9m versus RM75.6m same quarter a year ago.

1HE OCT 2010 NET PROFIT AT RM31M
For 1HE Oct 2010, GLOMAC recorded a Net Profit of RM31.4m on Revenue of RM267.2m.

UNBILLED SALES AT RM572M
GLOMAC said its Unbilled Sales at end Oct 2010 was RM572m, and this remained one of the key earnings growth drivers for the Group going forward.

We are confident that our sales momentum can be sustained. GLOMAC is well positioned, having more than RM2.5 bil worth of development projects for launch, Group EC, FD MANSOR said in a statement. Our Balance Sheet is healthy, giving us the capacity to further seek out landbank acquisition opportunities, he said.