PETALING JAYA: LBS Bina Group Berhad is confident of meeting its 2012 sales target of RM800 million.
For the first half of 2012, the company has already surpassed the half way mark of its 2012 sales target, as reflected in its AGM held here yesterday.
“As at 27 June 2012, LBS has achieved approximate RM500 million in sales.
"Barring any unforeseen circumstances we should achieve our 2012 sales target of RM800 million,” said LBS Managing Director, Datuk Lim Hock San.
Datuk Lim speaking at the media conference yesterday
Datuk Lim said that while the company offered a variety of products, landed residential units in the RM250,000 to RM500,000 and above range continued to enjoy brisk sales and would remain its key focus.
"Bandar Saujana Putra (BSP) has recorded RM279 million in sales which accounts for 56 per cent of the Group’s total sales, with Royal Ivory being the highest contributor reporting more than RM145 million in sales," he added.
Datuk Lim also said that the company will be launching two more phases comprising Royal Ivory II and Royal Garden by the end of the year to cater to the growing demand from homebuyers.
D’ Island Residence, LBS flagship high-end development, indicated good take-up rates for its bungalow lots which recorded RM85 million in sales year-to-date.
Other contributors included on-going projects such as Topaz III and IV, Ivory Residences II, Indigo Homes, Magenta Homes, Camelia Cottage, Pearl Villa, and I Hub Puchong in BSP.
For the financial year ended 31 December 2011, the Group recorded revenue and profit before tax (PBT) of approximately RM450 million and RM63 million respectively.
These represent a 31 per cent increase in revenue and 132 per cent in PBT over the results recorded in the preceding year.
As a result of its solid 2011 performance, the Group announced the payment of a first and final dividend of 2.5 sen per ordinary share of RM1.00 each.
This translates into a dividend payout ratio of 19 per cent of the Group’s net profit for the year.
**LBS is launching Nautilus, a 3-storey superlink home, within the D'Island Residence vicinity in Puchong tomorrow (30/06/2012). It is open to the public from 2pm to 6pm. GPS coordinates of D'Island Residence @ Puchong: N02° 57.752' / E101° 36.449'.