Mah Sing Group Bhd recorded property sales of RM536mil in the four months ended April 30, 2016 and plans to undertake RM1.8bil of launches in the second half of 2016.
The property developer said on Thursday it posted earnings of RM95.03mil in the first quarter ended March 31, 2016, which was a slight dip from the RM98.89mil a year ago.
Revenue declined 9.5% to RM709.17mil from RM784.14mil. Earnings per share were 3.18 sen compared with 4.64 sen.
Among the main points of its Q1 financial performance was a healthy balance sheet with cash pile of RM1.1bil and net gearing of only 0.09 times, which gave it the flexibility to respond to land acquisitions and investment opportunities.
“Strong unbilled sales of RM4.53bil or 1.61 times revenue recognised from property in 2015, and will provide ample short term liquidity," it said.
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The property developer said on Thursday it posted earnings of RM95.03mil in the first quarter ended March 31, 2016, which was a slight dip from the RM98.89mil a year ago.
Revenue declined 9.5% to RM709.17mil from RM784.14mil. Earnings per share were 3.18 sen compared with 4.64 sen.
Among the main points of its Q1 financial performance was a healthy balance sheet with cash pile of RM1.1bil and net gearing of only 0.09 times, which gave it the flexibility to respond to land acquisitions and investment opportunities.
“Strong unbilled sales of RM4.53bil or 1.61 times revenue recognised from property in 2015, and will provide ample short term liquidity," it said.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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