KUALA LUMPUR: Glomac Bhd posted lower revenue of RM472.2 million for the financial year ended April 30, 2015, compared to RM676.66 million registered in the preceding year.
Profit before tax declined to RM143.7 million from RM157.28 previously, according to its filing to Bursa Malaysia today.
Glomac achieved total sales of RM506 million in the financial year 2015, of which more than 80 per cent came from landed residential projects and affordable townships.
This year, the property developer is bringing to market new launches with an estimated Gross Development Value (GDV) of RM802 million, where the strategic focus continues to be in landed residential projects such as Lakeside Residences in Puchong and Suria Residen in Cheras.
Its longer term prospects are sustained by a solid development platform, where it has a sizeable landbank with future GDV of RM7.7 billion in various strategic locations.
Glomac’s product pipeline is mostly in affordable townships and the landed residential segment, where current demand remains buoyant.
