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- Net profit surged 80.3% year-on-year from RM25.23 million a year ago, while revenue increased 69.2% from RM180.42 million in 3QFY2024. No dividend was declared for the current quarter.
KUALA LUMPUR (July 24): Kedah-based property developer Oriental Interest Bhd (KL:OIB) reported its highest-ever quarterly net profit of RM45.48 million for the third quarter ended May 31, 2025 (3QFY2025), driven by record revenue of RM305.25 million.
The strong performance was supported by higher revenue recognition from construction progress of ongoing projects and contribution from newly launched developments, the company said in its filings.
During the quarter, the group delivered vacant possession of single-storey Permaipura Villa bungalow homes and industrial plots in Pulau Indah, while launching double-storey homes in a new phase of Taman Permaipura and industrial plots in Bukit Selambau.
Net profit surged 80.3% year-on-year from RM25.23 million a year ago, while revenue increased 69.2% from RM180.42 million in 3QFY2024. No dividend was declared for the current quarter.
For the nine-month period ended May 31, 2025 (9MFY2025), net profit climbed 68.2% to RM83.49 million, with revenue rising 41.4% to RM626.28 million.
The group said it holds 2,554 acres of development land, including land under joint development agreements, providing a strong foundation for future growth.
Looking ahead, Oriental Interest said it remains well-positioned for continued growth, supported by unbilled property sales of RM428.14 million and strong sales momentum, reinforcing its optimism for another year of positive performance in FY2025.
By Thursday’s market close, shares in Oriental Interest were up two sen or 1.7% at RM1.20, valuing the group at RM723.9 million. Year to date, the stock has declined 5.5%.
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