fbpx
Previous
Next

Advertisement Banner

Eco World net profit surged 172% in Q2 FY21.

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
airport bank board business

Property developers’ results are reflection of the property market’s health. If it’s true as what some people have been saying, then the property market should be very quiet. Property developers’ sales would be bad and of course their results would also be affected too. Here’s another one which has announced a profitable quarter and in fact the numbers do look promising too. Everyone with Eco World shares should rejoice as they have just announced a single-tier divided of 2 sen per share.

Article in theedgemarkets.com Eco World Development Group Bhd’s net profit surged 172% to RM42.32 million for the second financial quarter ended April 30, 2021  from RM15.55 million in the previous year’s corresponding quarter. In a statement, the group said it recorded sales of RM1.32 billion during the quarter, almost double the RM706 million sales achieved in the preceding quarter.

Eco World president and chief executive officer Datuk Chang Khim Wah said, “We are particularly encouraged by the fact that recovery has been broad-based with our projects in every single region performing well.” The total sales to-date accounts for 88% of its full-year sales target of RM2.875 billion. Please do read the full article in theedgemarkets.com

Listening to friends not necessary, reading about results matter more

Anyone from the property developer would do their best to paint a positive picture but sales have to come from the people. In other words, results would have to be announced every quarter, thus all would soon be revealed. Meanwhile we see real estate agencies continue to show good results from what they post in social media. That’s also part of their branding as they needed to continue hiring more real estate negotiators. Thus, it may also not be an accurate picture of the property market.

We have many property developers which are listed and thus, every now and then we would be able to read about their results. Follow these to get a clearer picture. It’s best to rely on what we read versus listening to some unverified views from friends or even just someone from the industry who may be a little biased (not a lot, but maybe a little) for their own benefit. Yes, I will report these results if I read about them too. Happy reading.

Love articles like this and more? Sign up for daily investment news updates. Alternatively, Follow me on Telegram here.

Please LIKE kopiandproperty.com FB page to get daily updates about the property market beyond kopiandproperty.com articles. Else, follow me on Twitter here.

Sign up for KopiWeekly. (only once per week of property, finance, investment news and more)

Next suggested article:  Same car, same property? Different results for different people

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

We love to hear from you (Facebook Comment)

LIKE us for property news update, FREE.

Previous
Next

Advertisement Banner

kopiandproperty.com

kopiandproperty.com

kopiandproperty.com is everything about property related writings and news. Enjoy reading with a latte.
Previous
Next

Advertisement Banner

LIKE us for property news update, FREE.

Property investment news everyday? Subscribe for free!

An article a day, keeps updated all the way.

Join 1,544 other subscribers

Property investment news everyday?

An article a day, keeps updated all the way. Subscribe for free!

join the family

Like us for daily investment news and more

Hit the like

%d bloggers like this: