Glomac profit before tax rises to RM33.4m in FY25
For the full financial year ended April 30, 2025 (FY25), Glomac recorded revenue of RM238.3 million, supported by steady construction progress at its ongoing developments, including Saujana Perdana, Lakeside Residences and contributions from two high-rise residential projects, namely 121 Residences and Plaza@Kelana Jaya.
PBT was higher at RM33.4 million from RM32.9 million in FY24, driven by stronger margins from higher-value developments, gains from disposal of investment properties, and lower finance cost.
During the year, Glomac successfully completed and handed over several projects, including 121 Residences, with an estimated GDV of RM334 million.
Glomac kept a healthy financial position, with near zero net gearing and shareholders' equity of RM1,200.9 million. As of end-April 2025, group held cash and deposits totalling RM235.7 million, providing ample liquidity to fund ongoing development and landbanking activities.
Glomac's net asset value per share stood at RM1.56, translating to a price-to-book ratio of approximately 0.20 times.
During the fourth quarter, Glomac rolled out new residential phases across its thriving township developments. Key launches included semi-detached houses at KEYS, Lakeside Residences, double-storey terrace houses at Allamanda, Saujana KLIA as well as Alamanda, Saujana Jaya, Kulai Johor.
Notably, all 112 units of double-storey terrace houses at Serai@SBCR, Bandar Saujana Utama, launched in Q1'5, were fully sold in Q4'25. Glomac achieved new sales of RM332 million for the full year.
Looking ahead to FY26, Glomac is planning new launches with a total estimated GDV of RM324 million, comprising entirely of landed residential properties. Key upcoming launches include two new phases of double-storey terrace houses at Serai@SBCR and a new phase of semi-detached homes at KEYS, Lakeside Residences.
Glomac has also strengthened its capital structure via its Sukuk Wakalah Programme, providing a funding capacity of up to RM3 billion.
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