LBS Bina Records Net Profit Of RM15.04 Mln In 2Q 2026
KUALA LUMPUR, Aug 21 (Bernama) -- LBS Bina Group Bhd registered a net profit of RM15.04 million for the second quarter ended June 30, 2026 (2Q FY2026) compared with RM27.08 million in 2Q FY2025.
In a filing with Bursa Malaysia, LBS said its net profit was lower due to the higher base in last year’s corresponding quarter, which benefited from a reversal of contingency sum that was no longer required for completed projects.
Revenue increased to RM340.46 million against RM309.84 million a year ago.
LBS said the development segment remained as the group’s core revenue contributor, generating RM293.10 million, mainly attributable to contributions from several completed or nearing completion development projects.
"Revenue from the construction and trading segment increased by 439.4 per cent to RM41.30 million from RM7.70 million last year, mainly driven by higher contributions from a foreign subsidiary," it said in a separate statement.
For the first six months of 2026 (1H FY2026), LBS delivered a net profit of RM32.07 million versus RM55.31 million previously, while revenue amounted to RM636.98 million compared with RM639.03 million for the same period a year ago.
Group executive chairman Tan Sri Dr Lim Hock San said market conditions continued to be influenced by geopolitical developments and persistent cost pressures, while homebuyers are taking a more considered approach to purchasing decisions.
“In response, we are pacing our launches in line with market demand and assessing each project based on its product positioning, pricing and timing. We remain disciplined in planning our launches and will not bring projects to market solely to meet predetermined timelines,” he said.
While profit contribution has moderated during the period, the group remains profitable and financially resilient, supported by its existing sales pipeline, healthy balance sheet and financial flexibility, he said.
LBS said it has maintained a healthy financial position, with deposits, cash and bank balances of RM591.2 million as at June 30, 2026, while net gearing has remained at approximately 0.35 times.
Its financial position has provided the group with some flexibility to support its ongoing development pipeline and pursue future growth opportunities.
LBS said it has completed the issuance of the third tranche of its ASEAN Social SRI Sukuk Wakalah of RM150 million in nominal value in July 2026, under its RM750 million Sukuk Wakalah Programme.
"The seven-year issuance further strengthens the group’s funding capacity and financial flexibility to support its business operations, sustainable development initiatives and planned developments," it said.
As at Aug 19, 2026, the group has a land bank of 1,578 hectares (3,899 acres), while RM1.06 billion in unbilled sales as at July 31, 2026, provides it with revenue visibility for the coming years.
LBS also said preparations for its Kwasa Damansara development are progressing as planned, adding that the project is expected to serve as a long-term growth catalyst and strengthen its future development and sales pipeline.
The company declared a first interim single-tier dividend of 0.85 sen per ordinary share for FY2026, payable on Nov 19, 2026.
-- BERNAMA