“The property development division reported a better performance due to contributions from its ongoing projects in Emerald 9 (pic) and Emerald Hills in Cheras.五湖四海足球吧（www.hgbbs.vip）凝集民间高手免费提供各联赛足球资讯、足球推荐、足球贴士等，致力为广大波友提供更全面、更专业的赛前预测分析，让更多球迷随时随地找到自己想要的赛事资讯，以及在本站尽情发言自己的观点。
PETALING JAYA: Guocoland (M) Bhd hinted at acquiring more land and launching new property projects, after its property development business consistently delivered stronger revenue over the past three consecutive quarters.
Guocoland, which is the property arm of Hong Leong group, said new product launches would be phased according to prevailing market conditions.
In a filing with the stock exchange, it also said that it would continue to monetise its inventories and complete its development projects on time.
In the fourth quarter ended June 30, Guocoland’s net profit surged by over three-folds year-on-year (y-o-y) to RM23.79mil.This was achieved on the back of a stronger top line, with the revenue increasing 29.1% y-o-y to RM172.08mil, as well as a lower loss incurred by the hospitality division.
“The property development division reported a better performance due to contributions from its ongoing projects in Emerald 9 and Emerald Hills in Cheras.
“The performance of the hospitality division has improved with higher occupancy and average room rates from the increase in tourism subsequent to the reopening of international borders and relaxed local travel restrictions in the current quarter,” according to the group.,
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For the fourth quarter under review, the earnings per share stood at 3.55 sen. Guocoland declared a dividend of two sen per share for the quarter.
Cumulatively, for the financial year of 2022 (FY22), Guocoland reported a net profit of RM26.3mil.
This represented a sharp drop of 66.03% y-o-y.
The revenue for the full-year also declined by 33.3% y-o-y to RM434.07mil.
However, Guocoland said that its FY22 financial performance had improved and had the one-off gain on a disposal made in the previous financial year.