Ibraco's 1Q profit surges 164pct to RM14.81m, backed by positive operating landscape in Sarawak
Ibraco Bhd (Ibraco) delivered a strong start to the financial year 2025 (1QFY25) with its profit after tax (PAT) rising 164 per cent to RM14.81 million compared to RM5.61 million recorded in the same period last year.
The group’s revenue also grew substantially by 130 per cent to RM184.05 million in 1QFY25, up from RM80.14 million recorded in 1QFY24.
In a press statement, the group said despite challenges marked by global economic uncertainties, Ibraco’s performance underscores the resilience of the overall Malaysian economy as well as the strength of Sarawak’s ongoing development.
Reflecting on the results, Ibraco’s managing director Datuk Chew Chiaw Han stated, “We are off to a strong start for FY25 and this is a reflection of the positive operating landscape and the group’s continued focus on driving tangible value creation momentum across our core segments through our integrated business model.”
“While we are keeping a very close eye on the external headwinds that may impact the domestic construction and property market, we remain optimistic of Sarawak’s growth potential that is powered by strategic government initiatives and continued investments in infrastructure and technology.”
The group attributed its strong top-line growth to the continued strength of the group’s construction segment, which contributed RM110.31 million or approximately 60 per cent of total revenue in 1QFY25. This was supported by progressive revenue recognition from several ongoing government infrastructure projects.
Ibraco’s property segment recorded strong quarter-on-quarter growth, with revenue rising to RM63.84 million in 1QFY25 from RM42.16 million in 1QFY24.
It noted that the property segment’s performance was further boosted by the overwhelming response to NorthBank Central, a new development launched in the first quarter of this year.
Strategically located within the thriving NorthBank township, the launch exceeded expectations with strong take-up rates, underlining growing demand for well-planned mixed-use developments in Kuching’s expanding urban landscape.
Additionally, Ibraco’s flagship township, Arden City in Kota Samarahan, continues to take shape as an integrated and self-sustaining world-class development.
Spanning 76 acres, the development features a strategic mix of residential, commercial, healthcare and lifestyle components. Its proximity to major institutions including the Sarawak Heart Centre and UNIMAS Teaching Hospital, along with the future Autonomous Rapid Transit (ART) station nearby, positions Arden City as a dynamic and accessible urban centre for the region.
Ibraco said its construction division will continue to play a pivotal role in driving earnings moving forward. The group is currently undertaking several infrastructure projects across Sarawak and remains actively involved in bidding for new government contracts to support long-term revenue growth.
As at March 31, 2025, the group’s unbilled sales stood at RM285.74 million, while its outstanding order book reached RM961.89 million, ensuring a healthy revenue pipeline for the coming quarters.
Meanwhile, as part of its evolving ESG journey, Ibraco said it is taking steps to incorporate responsible development practices and support community upliftment through job creation and local infrastructure. The group aims to strengthen its commitment to environment, social and governance principles across future projects.
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