Latest news with #RM62.3mil
The Star
4 days ago
- Business
- The Star
I-Bhd posts 2Q net profit jump to RM11.45mil
I-Bhd executive chairman Tan Sri Lim Kim Hong KUALA LUMPUR: I-Bhd 's net profit more than doubled to RM11.45mil in the second quarter ended June 30, 2025, from RM5.45mil in the year-ago quarter, on higher contributions across its core business segments. "This quarter's results reflect the group's continued discipline in building a resilient, recurring income base while executing on our longer-term roadmap to elevate i-City as Malaysia's leading smart lifestyle destination. "Each segment is delivering as intended—whether through stability, growth, or innovation—and this balanced approach gives us the agility to navigate evolving market dynamics," said executive chairman Tan Sri Lim Kim Hong in a statement. During the quarter under review, the property developer posted revenue of RM62.3mil, up from RM55.53mil in the year-ago quarter. Earnings per share rose to 0.62 sen from 0.29 sen in the comparative quarter. Over the six-month period, net profit leapt to RM21.41mil from RM9.52mil in 1HFY24, while revenue climbed to RM124.35mil from RM96.16mil in the comparative period. According to I-Bhd, the leisure and hospitality segment remained the largest revenue generator for the second consecutive quarter, contributing RM28.6mil in revenue and RM4.77mil in pre-tax profit, representing a 61% increase from the preceding quarter. The property development segment delivered RM26.64mil in revenue and RM5.66mil in pre-tax profit, driven by steady sales and construction progress at BeCentral Residences Towers 1 & 2. As of June 30, 2025, unbilled sales stood at RM90.36mil. The property investment segment continued to provide stable returns, contributing RM6.45mil in revenue and RM4.79 mil in pre-tax profit.
The Star
07-07-2025
- Business
- The Star
Eco-Shop expected to weather cost pressures
PETALING JAYA: Retailer Eco-Shop Marketing Bhd is set for a solid performance for its financial year ending May 31, 2026 (FY26), analysts say. This will be supported by its three-year compound annual growth rate (CAGR) in profit of 17.7% as well as its defensive positioning amid multiple emerging headwinds, said UOB Kay Hian Research (UOBKH Research). In a report on the retailer, the research house said Eco-Shop's profitability outlook remains intact despite cost pressures from the higher minimum wage, Employees Provident Fund (EPF) contributions for foreign workers, electricity tariffs and an expanded 8% sales and service tax on commercial rents. 'While most of these individual increases are not material to Eco-Shop's earnings, the combined impact is estimated at RM40mil annually, or about 7.6% of FY26's earnings before interest, tax, depreciation and amortisation,' the research house stated. UOBKH Research said that in order for the group to mitigate the impact of costs, it had raised its fixed pricing from RM2.40 to RM2.60 in April. This effort mirrors its 2022 strategy, when a similar adjustment led to a short-term drop in foot traffic before recovering within two months. UOBKH Research expects a similar trend to play out with the company's same-store sales growth (SSSG) rebounding into double digits in FY26. This will be supported by a planned store revamp. While the fourth quarter of FY25 (4Q25) may record flattish SSSG and sequentially softer earnings to RM62.3mil due to the immediate impact of the price change and Ramadan-related seasonality, full-year earnings are expected to meet projections. Additionally, the research house stated that the group's aggressive store expansion further supports growth. The group had exceeded its target with over 80 new stores opened in FY25. 'The abundance of premises and its growth off a low base have firmly positioned Eco-Shop to achieve its target of 70 new stores annually over the medium term. We also gather that it has already largely secured its sites for FY26,' it added. UOBKH Research made no changes to its earnings estimates on Eco-Shop and maintained a 'buy' call on the retailer with a target price of RM1.45 a share. 'Despite multiple headwinds, we expect Eco-Shop's earnings outlook to remain firmly intact,' it stated, adding that the projected three-year CAGR of 17.7% from FY24 to FY27 is nearly double than that of its peers 99 Speed Mart Retail Holdings Bhd and MR DIY Group (M) Bhd . The research house also said it valued Eco-Shop at 34.5 times FY26 earnings, placing it between 99 Speedmart and MR DIY in terms of growth and valuation appeal.
