Share
PETALING JAYA (May 29): Ayer Holdings Bhd (AYER) delivered a strong start to FY2026, with revenue rising 137% year-on-year to RM42.7 million for the first quarter ended March 31, 2026 (1QFY2026), supported by higher contributions from its property development and plantation segments.
In its Bursa Malaysia filing, the group reported that profit before tax (PBT) increased 233% to RM18.9 million, while profit after tax (PAT) climbed to RM13.5 million from RM3.93 million in the corresponding quarter last year. Earnings per share came in at 18.07 sen, while net assets per share improved to RM8.59 as at end-March 2026.
The stronger performance was mainly attributed to higher revenue recognition from ongoing property developments, driven by construction progress, alongside improved fresh fruit bunch (FFB) production in the plantation segment.
Segment performance
The property segment remained the group’s primary earnings driver, contributing RM35.9 million in revenue and RM15.8 million in PBT during the quarter, which represented about 84% of AYER’s total revenue and profit before tax.
The performance was underpinned by ongoing contributions from Erica Residence and BP Boulevard, which continued to register steady construction progress and healthy take-up rates.
The plantation segment contributed RM6.8 million in revenue and RM2.7 million in PBT, driven by higher FFB production volumes despite softer crude palm oil prices during the period under review. The group attributed the improvement to operational execution within the segment.
Management commentary
Group chief executive officer Joanne Lee said the first-quarter results reflected continued execution across AYER’s core businesses, in line with the group’s strategic focus. She noted that the steady progress of its property developments supported both revenue recognition and profitability, while the plantation segment benefited from better production volumes.
Lee added that the group remains focused on sustaining its momentum through the continued execution of ongoing developments and the launch of subsequent residential and commercial phases, backed by disciplined capital management and a healthy development pipeline.
Cautiously optimistic outlook
AYER said its diversified business model is expected to continue providing resilience against an uncertain external environment, including geopolitical tensions in the Middle East, volatility in global energy markets, inflationary pressures and broader macroeconomic uncertainties.
For FY2026, Erica Residence and BP Boulevard are expected to remain key revenue contributors and are anticipated to be completed by year end, as the group continues to monetise its landbank in Bandar Bukit Puchong through carefully phased launches while maintaining prudent cost and cash flow management.
The plantation segment is expected to remain satisfactory, supported by relatively firm crude palm oil prices, though performance may be influenced by global supply-demand dynamics and cost pressures, with the group focusing on operational efficiency, scheduled replanting and yield enhancement over time.
Barring unforeseen circumstances, the board said it remains cautiously optimistic about the group’s prospects for the financial year ending Dec 31, 2026, and expects to deliver stable financial performance, supported by sustained property development activities, recurring plantation income and disciplined management of expenditure, liquidity and capital commitments.
..........
EdgeProp brings you another month of data-driven insights, exclusive interviews, and market commentaries. Subscribe now for your free copy!
