- After having met its RM1.2 billion sales target for FY16 with total sales of RM1.24 billion, LBS Bina Group (LBS Bina) is aiming to achieve a higher target of RM1.5 billion sales for FY17.
- The FY17 sales target is expected to be driven by planned launches with a gross development value of around RM2.3 billion, as well as unbilled revenue of RM1.5 billion as at 28 December 2016.
- The group’s cumulative 9M16 net profit rose 8.4 percent to RM57.5 million, on the back of a 36.9 percent jump in revenue to RM671.4 million.
- As of year 2016, LBS Bina has 3,532 hectare of land bank with an estimated GDV of RM27.4 billion.
Significance: Going forward, LBS Bina is confident that the strategic location of its projects which provide convenience and connectivity, can contribute towards the value appreciation for its developments. Despite the slower economic growth recently, the group believes that homebuyers will recognize the value of a good development.