KUALA LUMPUR: Oriental Interest Bhd
, which has unbilled property sales of RM502.31mil in the financial year ended Aug 31, 2023 (FY23), is optimistic in delivering another set of positive results for FY24.
Oriental Interest currently has 2,890 acres of strategic development lands (including land banks under landowners and developer agreements) that will augur well for the future growth of its property development activities.
“The group continues to actively look for and acquire new land bank given positive outlook in the property development industry and the demand from the first-time home buyers and own stay market for residential properties remained sustainable,” it said in the note accompanying its financial results.
Oriental Interest’s net profit jumped 53.7% to RM42.5mil, or earnings per share of 9.14 sen in the fourth quarter ended Aug 31 (4Q) compared with RM27.6mil, or 5.95 sen a year ago.
It reported a 30% jump in revenue to RM200.9mil against RM154.7mil.
For FY23, Oriental Interest posted a net profit of RM75.6mil, down 2.14% from RM78.3mil while revenue expanded 12.3% to RM534.3mil compared with RM475.7mil last year.
Oriental Interest has declared an interim single-tier dividend of 5 sen per ordinary share for FY23. The entitlement date is fixed on Dec 15 and payment will be made on Dec 29, 2023.
