KUCHING: Ibraco Berhad has announced its fourth quarter results for the financial year ended Dec 31 2022 (Q4FY2022) at RM82.45 million for its revenue.
This represents a 14.6 per cent decline from RM96 million recorded in the corresponding quarter for the previous year (Q4FY2021).
The property firm said although registering a decrease in revenue, profit before tax (PBT) for the quarter under review leaped by 73.4 per cent to RM20.16 million from RM11.63 million in the corresponding quarter for the preceding year (Q4FY2021), while profit after tax (PAT) significantly improved to RM14.02 million, a 48.7 per cent increase from RM 9.43 million recorded in Q4FY2021.
“The notable improvements in PAT were attributable to the expansion of gross profit margin coupled with the lower selling and marketing expenses for the current quarter,” it said.
Ibraco announced that against the challenging backdrop from inflationary headwinds and supply chain disruptions which had inevitably led to the rising cost of raw materials and commodities, its financial performance remains resilient.
“Amid a more moderate economic outlook for the coming year due to present external headwinds, we are confident in sustaining our current financial performance,” it added.
This will be further supported by the upcoming property project launches, mainly consisting of residential and commercial properties in particular its fully integrated township, the NorthBank and upcoming new frontier in Samarahan which shall be the company’s impetus of growth moving forward.
“We shall also remain prudent with respect to any new projects whilst being cognisant of the market demand for our products.
“Additionally, we will remain focused on actively tendering for the government’s construction and infrastructure projects to further strengthen our revenue stream and grow our order book,” Ibraco said.
