25 August 2014

IOI Properties posts RM413mil net profit, 8 sen dividend

  25 August 2014

KUALA LUMPUR: IOI Properties Group Bhd posted a RM413mil net profit for its fourth quarter ended June 30, 2014.

In a statement to Bursa Malaysia on Monday, the group said revenue for the period stood at RM417.16mil.

Earnings per share was at 12.75 sen and the group has also declared an eight sen dividend per share.

For its full year, IOI Properties posted a RM913.39mil net profit while revenue stood at RM1.45bil.

The group said revenue and operating profit from property development contributed 85% and 83% respectively to the group’s year-to-date performance.

“The main contributors include our development projects in Klang Valley and Johor, Malaysia. In addition, our development project in Xiamen, PRC has also contributed positively to the Group’s results,” it said.

It added that revenue and operating profit from property investment contributed 7% and 11% respectively to the group’s year-to-date performance.

“The main contributors include IOI Mall, Puchong, One & Two IOI Square, IOI Resort and IOI Boulevard, Puchong One & Two IOI Square, IOI Resort and IOI Boulevard, Puchong,” it said.

For its leisure, hospitality and other operations, the main contributors for this segment are from Putrajaya Mariott Hotel and Palm Garden Hotel in IOI Resort.

The contribution from other operations consist mainly of cultivation of plantation produce, property maintenance services.

The group said the governments in Malaysia, Singapore and China, where the IOI Properties has its presence, have introduced various regulatory measures to promote a more stable and sustain able property market.

“As these regulatory measures are meant to curb speculation and not to restrict genuine demand, these measures are not expected to affect the sustainable growth of the property sector over the longer term,” it said.

The group said outlook for the property market in both Malaysia and Singapore remains challenging in the shorter term as the property market sentiment has soften with a slowdown of investment decision.

“We anticipate the current market sentiment to continue over the first half of the new financial year,” it said.

Nonetheless, with an unbilled sales of approximately RM1.5bil and higher recurring income from newly completed investment properties, the overall group’s performance is expected to be satisfactory.

~ By THE STAR

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