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KUALA LUMPUR (March 31): Crescendo Corp Bhd’s net profit dropped 60.1% for the fourth quarter despite higher revenue, weighed down by operating costs and operating losses at a subsidiary due to relocation expenses and setup of a new factory.
In a filing with Bursa Malaysia on Monday, it posted net profit for the fourth quarter ended Jan 31, 2026 (4QFY2026) fell to RM1.04 million, compared with RM2.6 million a year earlier.
This marks the group’s lowest quarterly profit since 4QFY2023, when it recorded a net loss of RM3.64 million.
Crescendo’s quarterly revenue increased 16% to RM82.44 million from RM71.06 million due to stronger contributions across all segments; namely property development and construction, manufacturing and trading, property investment, services and others.
The Johor-based property developer did not declare dividend for the quarter.
For the full FY2026, the group’s net profit dropped 82.46% to RM92.27 million from RM526.32 million, while revenue declined 61.33% to RM445.21 million from RM1.15 billion mainly due to the absence of large land sales recognised in the previous year.
It should be noted that the group saw a slew of land sales in Johor in FY2025 mainly to data centre operators.
On prospects, Crescendo flagged global uncertainties, including geopolitical tensions and rising costs, as key risks, but expects demand for industrial properties in Johor to remain supported by foreign investment and infrastructure developments such as the Johor-Singapore RTS link.
“The group will continue to closely monitor the market situation and implement appropriate measures, where necessary, to mitigate potential impacts on its operations,” it said.
“The group will adopt a prudent approach by leveraging on its strategic land bank to develop properties that meet market needs and manage the rising costs as a result of minimum wage adjustment, subsidy rationalisation for fuel and electricity, and the expansion of service tax scope. It remains focused on strengthening resilience, optimising cost management, and pursuing market-responsive development.”
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