Iskandar Waterfront City Bhd Q3 pre-tax profit soars to RM45.07 million

Iskandar Waterfront City Bhd Q3 pre-tax profit soars to RM45.07 million

KUALA LUMPUR, Nov 30 — Iskandar Waterfront City Bhd’s pre-tax profit for the third quarter (Q3) ended Sept 30, 2015 rose to RM45.07 million from RM8.08 million in the same quarter in 2014.

Revenue soared to RM148.47 billion versus RM25.49 billion previously, attributed mainly to revenue contribution from property and construction development, it said in a filing to Bursa Malaysia yesterday.

“The external environment is expected to remain tough under the current market condition fraught with uncertainties and challenges”.

“In this challenging environment, the group will continue to be disciplined and prudent in its business development decisions while maintaining a good balance between growth and stability,” it said.

The group also said that the operating environment in the short term was expected to stay challenging and market outlook had softened, giving negative sentiment due to the weakening ringgit.

“However, with unbilled sales and portfolio of projects within our landbank, the group should be able to maintain growth while continuing its long-term strategy to attract investors with the right products.

“Our focus going forward is to extend our reach in the property market notwithstanding the challenging outlook for the remaining period in 2015,” it added.

— BERNAMA

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