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PETALING JAYA (Aug 20): LBS Bina Group Bhd’s net profit attributable to shareholders fell 44.4% year-on-year to RM15.05 million for the second quarter ended June 30, 2026 (2QFY2026), from RM27.08 million, despite higher revenue.
Quarterly revenue rose 9.9% to RM340.46 million from RM309.84 million a year earlier, while profit before tax (PBT) declined 36.3% to RM30.74 million from RM48.29 million, according to the property developer’s Bursa Malaysia filing on Thursday (Aug 20).
LBS Bina said the revenue increase was mainly due to a stronger contribution from its construction and trading segment. The lower PBT, meanwhile, reflected a higher base in 2QFY2025, when the group recognised a reversal of a contingency sum that was no longer required for completed projects.
For the first half of FY2026, net profit attributable to shareholders fell 42% to RM32.08 million from RM55.31 million, while revenue was broadly unchanged at RM636.98 million, compared with RM639.04 million a year earlier. PBT fell 30.8% to RM68.42 million from RM98.84 million.
Segment performance
Property development remained the group’s largest revenue contributor, accounting for 86% of first-half revenue. The segment’s revenue fell 10.6% to RM546.09 million from RM610.59 million, while PBT declined 36% to RM66.69 million from RM104.19 million.
The group attributed the lower property development revenue and PBT mainly to the completion or near-completion of certain projects. LBS Alam Perdana, KITA @ Cybersouth and Centrum Iris were the main contributors to the segment’s first-half revenue and PBT.
Construction and trading revenue rose to RM78.86 million in 1HFY2026 from RM16.68 million a year earlier, while PBT increased to RM4.70 million from RM2.65 million, mainly due to contributions from a foreign subsidiary.
Pipeline and dividend
As at Aug 18, the group had recorded property sales of RM658.4 million and bookings of RM369.7 million, mainly supported by demand for Alam Perdana Industrial Park and Centrum Iris.
It had RM1.06 billion in unbilled sales as at July 31 and a landbank of 3,899 acres as at Aug 19. Further launches are scheduled for the second half of 2026, subject to market conditions.
LBS Bina said it is also progressing with its premium residential development in Kwasa Damansara, which it expects to be a long-term growth catalyst upon commencement.
In July, the group issued the third tranche of its ASEAN Social SRI Sukuk Wakalah, comprising RM150 million in nominal value with a seven-year tenure, under its RM750 million Sukuk Wakalah Programme.
The board declared a first interim single-tier dividend of 0.85 sen per share for FY2026. The ex-date is Oct 29, the entitlement date is Oct 30, and payment will be made on Nov 19.
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