KUALA LUMPUR (Jan 27): EcoFirst Consolidated Bhd (KL:ECOFIRS) reported a 28.5% year-on-year decline in net profit for its second quarter, reflecting weaker contributions across its business segments.
For the three months ended Nov 30, 2025 (2QFY2026), net profit fell to RM2.43 million from RM3.39 million a year earlier, while earnings per share decreased to 0.21 sen from 0.29 sen. Quarterly revenue also dropped 28.6% to RM78.28 million from RM109.55 million, according to a Bursa Malaysia filing. No dividend was declared for the quarter.
EcoFirst noted that its property development segment posted a pre-tax profit of RM6.95 million in 2QFY2026, down 51% from RM14.1 million previously. Meanwhile, the property investment segment recorded a higher pre-tax loss of RM1.22 million versus RM712,000, and the investment and other businesses saw their pre-tax losses widen to RM2.21 million from RM1.24 million.
Despite the quarterly slowdown, EcoFirst’s first-half performance improved markedly. Net profit nearly tripled to RM12.91 million from RM4.34 million in the previous corresponding period, supported by a 14.97% revenue increase to RM201.73 million. The company attributed the stronger half-year results to lower financing costs from reduced leveraged loan commitments, alongside accelerated progress on its KL48 serviced apartment project.
Looking ahead, EcoFirst plans to launch a new mixed-development project in the second quarter of 2026 in Jade Hills, Kajang, with a gross development value exceeding RM400 million. The project’s location offers proximity to key landmarks, including Jade Hills, Easton International School, and Universiti Putra Malaysia, enhancing its appeal for both residential and leisure purposes.
The group reiterated its commitment to expanding its land bank in strategic areas with strong fundamentals, connectivity, and development readiness. These efforts are designed to bolster its portfolio and support long-term resilience amid a challenging macroeconomic environment.
According to AskEdge, EcoFirst maintains a trailing 12-month earnings before interest, tax, depreciation, and amortisation (EBITDA) margin of 13.6% and a return on equity of 6.6%.
EcoFirst shares closed 0.5 sen, or 1.52%, higher at 33.5 sen on Tuesday, giving the company a market capitalisation of RM405 million.
From a broader property perspective, EcoFirst’s focus on well-located developments aligns with growing demand across Malaysia’s real estate market, including commercial property in KL, premium office space in Bukit Jalil, strategically located industrial land in Selangor, modern factory developments in Puchong, and established industrial property in the Subang area, all of which benefit from strong connectivity and long-term growth potential.
Indonesia