PETALING JAYA: Glomac Bhd reported a positive set of results for the fourth quarter ended April 30, 2026, capping a financial year supported by continued contributions from its ongoing developments and healthy earnings visibility.
For the quarter, the group registered profit before tax (PBT) of RM20.6 million on revenue of RM79.8 million, compared with PBT of RM13.6 million in the same quarter of FY25, an increase of 51% year-on-year.
Net profit attributable to shareholders increased to RM13.3 million, from RM2.7 million in the same quarter last year.
The improved quarterly performance was primarily attributable to higher progress billings from the KEYS semi-detached houses, shop offices at Lakeside Residences, shop offices at Saujana Perdana, and the Serai terrace homes at Sungai Buloh Country Resort (SBCR).
Profitability was further supported by prudent cost management amid ongoing external cost pressures.
For FY26, Glomac posted revenue of RM226.2 million, PBT of RM32.7 million and an improved profit after tax (PAT) of RM20.2 million.
The group’s property development segment remained the primary contributor to earnings during the financial year, while overall performance benefited from lower finance costs and tax expenses.
Glomac maintained unbilled sales of RM546 million as of April 30, providing earnings visibility for the current financial year through its ongoing development projects.
The group continued to place strong emphasis on maintaining a solid financial position and balance sheet.
Net borrowings remained negligible, while the group held cash and cash equivalents of RM215.8 million as at the end of FY26.
Coupled with access to its RM3 billion Sukuk Wakalah Programme, the group remains well-positioned to advance its core development activities while pursuing synergistic opportunities for expansion and diversification, positioning the group on a more resilient foundation for future growth.
As of April 30, 2026, Glomac’s net asset per share stood at RM1.58.
Reflecting the group’s commitment to delivering shareholder returns, the board has proposed a single-tier final dividend of 1.38 sen per ordinary share for FY26, subject to shareholders’ approval at the coming annual general meeting).
Based on the proposed final dividend, the dividend yield is 4.3%.
On projects, Glomac plans to roll out a steady pipeline of new development products, comprising a balanced mix of commercial and landed residential offerings across its established township developments.
Planned launches for FY27 are expected to carry an estimated gross development value (GDV) of RM371 million.
Glomac has commenced its FY27 launch programme with the unveiling of 16 Legacy, comprising exclusive dual-frontage semi-detached homes at Saujana Rawang.
A new phase of landed homes is also expected to be introduced within the township during the financial year.
Other launches in the pipeline include shop offices at Saujana Perdana and Saujana KLIA, semi-detached homes at Lakeside Residences, and a new phase of terrace homes at its Serai @ SBCR development.
These launches are expected to support sales replenishment while broadening the group’s product offerings across its key development corridors.
Glomac said it remains mindful of ongoing geopolitical developments, rising construction costs and inflationary pressures, which continue to influence the operating landscape.
Against this backdrop, Glomac will continue to prioritise prudent cost management, timely project delivery and the execution of its planned launches.
As the group enters FY27, it remains committed to delivering quality developments that meet the expectations of its customers, building on close to four decades of successful project delivery and cumulative sales of RM11 billion.
Supported by a strong balance sheet, RM546 million in unbilled sales and strategic landbanks with an estimated remaining GDV of about RM6 billion, the group remains well-positioned to navigate market uncertainties while unlocking opportunities across its established townships and ongoing developments.
