Posted by Jimmy Song > 2015-08-31 15:47 | Report Abuse

TITIJAYA ENDS FY2015 ON STRONG NOTE GROUP DELIVERS RM80.7 MILLION IN EARNINGS PETALING JAYA, 27 AUGUST 2015 – TITIJAYA LAND BERHAD (“Titijaya” or the “Group”, “帝亿置地”), a growing property developer, today announced its full year results for the financial year ending 30 June 2015 (“FY2015”). In respect to the Group’s financial performance for the full year, Titijaya delivered profit before tax (“PBT”) and profit after tax (“PAT”) of RM111 million and RM80.7 million respectively on the back of RM340.7 million in revenue. This represents an increase in PBT and PAT of 15% and 13% respectively compared to the previous financial year (“FY2014”). The increase in earnings was mainly due to the contribution from the Group’s property projects, Seri Alam Industrial Park as well as the Zone Innovation Park development in Klang. “I am pleased with our full year financial performance. We have been posting steady earnings growth since our listing and will continue to push forward with our business and growth strategies to maintain our momentum. The Group’s profitability can be sustained through the continuous sales of our development projects and our new upcoming launches,” Mr. Lim Poh Yit (“林保亿”), the Group’s Deputy Managing Director commented. The Group’s total unbilled sales as at 30 June 2015 stood at RM731.7 million, while total sales were RM498.8 million. As at 30 June 2015, the Group’s balance sheet remains very healthy with total equity of RM475.2 million and net cash of RM30 million. “When we were first listed in November 2013, our total landbank GDV was RM4.2 billion. I am proud to report that as a result of our ongoing landbanking strategy, it now stands at RM6.8 billion.” continued Mr. Lim. The Group has proposed a single-tier dividend of 9% in respect of the current financial year.