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.
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