28-05-2025
- Business
- New Straits Times
E&O ends FY2025 with 95pct revenue surge on strong property, JV sales
KUALA LUMPUR: Eastern & Oriental Bhd (E&O) saw a strong finish to its financial year ended March 31, 2025 (FY2025), with fourth-quarter revenue surging 95.1 per cent year-on-year to RM236.7 million, up from RM121.3 million.
Pre-tax profit rose 49.3 per cent to RM72.1 million, while net profit nearly doubled to RM74 million.
For the full year, revenue climbed 75.3 per cent to RM741.1 million, and net profit increased by 28.8 per cent to RM181.7 million. Excluding unrealised forex losses and one-off items, recurring net profit stood at RM210.5 million, up 95 per cent.
E&O said that the strong performance was largely driven by the property segment, which contributed RM630.5 million in revenue, a 102 per cent increase and 85.1 per cent of total group revenue.
Joint venture projects, including Conlay, The Peak, and Avira Garden Terraces, contributed RM428.9 million in revenue, marking a 61.5 per cent increase.
On an aggregate basis, the total revenue generated by the properties segment, including joint ventures, reached RM1.06 billion.
Managing director Kok Tuck Cheong said, "We are encouraged to end FY2025 on a strong note. Our performance reflects the impact of our strategic direction and focus on sustainable growth."
At Andaman Island, E&O currently has five ongoing projects with a total gross development value (GDV) of RM2.7 billion.
"The group remains committed to delivering high-quality developments that cater to the expectations of discerning homebuyers and investors while enhancing community living and driving long-term value creation," Wong said.
Looking ahead, the group plans to launch four residential and retail projects in Penang and the Klang Valley in Q2 or Q3 of FY2026.
E&O's hospitality segment also remains steady, and the group expects stronger performance in the new financial year, supported by hotel refurbishments, increased international flights, and expanded visa-free travel between Malaysia and China.
