"This achievement is remarkable despite the challenging operating conditions beset by inflationary pressure, labour shortages, high material costs and rising interest rates," it said in comments accompanying its 3Q'FY22 results announcement to Bursa Malaysia.
It said the ongoing full stamp duty exemption on first residential homes below RM500,000 will continue to boost ownership among middle-income earners as 60% of its properties are priced within the RM500,000 range. "While economic backdrop remains uncertain, the group will continue to advance digitalisation within the organisation, step up departmental centralisation, and to continue automated data gathering on industrialised building system for greater output and quality.
For the third quarter ended Sept 30, 2022, LBS Bina posted a net profit of RM35.35mil, which was nearly double the result achieved in the same quarter last year.The group reported revenue of RM528.89mil, more than twice the revenue of 3Q'FY21.