KUALA LUMPUR – Glomac Bhd delivered a strong financial performance for the fourth quarter ended April 30, 2026 (4QFY2026), recording a more than fourfold increase in net profit as higher construction progress billings and disciplined cost management helped offset ongoing inflationary and construction cost pressures.
The property developer reported net profit of RM13.26 million in 4QFY2026, compared with RM2.74 million in the corresponding quarter a year earlier. Revenue rose 6.4% year-on-year to RM79.75 million from RM74.94 million.
The improved quarterly performance was primarily driven by progress billings from several ongoing projects, including the KEYS semi-detached homes, shop offices at Lakeside Residences and Saujana Perdana, as well as the Serai terrace homes within Sungai Buloh Country Resort.
For the full financial year ended April 30, 2026 (FY2026), Glomac achieved net profit of RM21.2 million, representing a 33.1% increase from RM15.94 million recorded in FY2025. Revenue, however, eased 5.1% to RM226.17 million from RM238.34 million previously.
The group has proposed a final single-tier dividend of 1.38 sen per share, translating into an estimated dividend yield of approximately 4.3%, subject to shareholder approval at its forthcoming annual general meeting.
Glomac’s latest results demonstrate that demand for its landed residential developments remains resilient despite a more challenging economic and construction environment. The substantial increase in quarterly earnings highlights the importance of project execution and timely construction progress in supporting profitability.
The company’s RM546 million unbilled sales provide strong earnings visibility for the coming years, while its sizeable landbank with an estimated remaining gross development value (GDV) of RM6 billion offers a long-term development pipeline.
Another key takeaway is Glomac’s commitment to maintaining shareholder returns through dividends while continuing to invest in future growth. The proposed dividend yield of over 4% may appeal to income-focused investors seeking exposure to the property sector.
Looking ahead, Glomac plans to launch RM371 million worth of new developments in FY2027. The pipeline consists of a balanced mix of commercial and landed residential products across its established townships, reflecting the group's strategy of targeting proven locations with existing demand.
The FY2027 launch programme has already commenced with 16 Legacy, a dual-frontage semi-detached housing development in Saujana Rawang. Future launches are expected to include shop offices in Saujana Perdana and Saujana KLIA, semi-detached homes at Lakeside Residences, and a new phase of terrace houses at Serai @ SBCR.
While management remains cautious regarding geopolitical uncertainties, rising construction costs and inflationary pressures, Glomac intends to continue focusing on cost discipline, efficient project execution and timely delivery of developments.
Overall, the group's improving profitability, healthy unbilled sales position, dividend payout and upcoming launches indicate that Glomac is entering FY2027 with a solid foundation for sustainable growth despite ongoing market challenges.
Yao Mu Realty, based in Kuala Lumpur, Malaysia, specializes in industrial real estate for factories and land, delivering professional and efficient solutions.
Posted by Yao Mu Realty Sdn Bhd on 26 Jun 26
Malaysia