Q1 revenue beat lifts growth outlook

https://www.sarawaktribune.com/q1-revenue-beat-lifts-growth-outlook/

 

 

Ibraco Bhd posted RM184.05 million in revenue for the first quarter ended March 31, 2025 (1Q2025), up 130 per cent from RM80.14 million a year ago, driven by sustained strength in its construction segment and improved property sales.

Construction contributed RM110.31 million or 60 per cent of group revenue, supported by ongoing government infrastructure projects.

Property revenue rose to RM63.84 million from RM42.16 million, boosted by strong demand for the newly launched NorthBank Central development.

Net profit surged 164 per cent year-on-year to RM14.81 million.

Group Managing Director, Datuk Chew Chiaw Han, said the results underscore a resilient outlook, adding that Ibraco remains “optimistic about Sarawak’s growth potential”, underpinned by strategic infrastructure spending.

Arden City, Ibraco’s flagship 76-acre township in Kota Samarahan, is progressing with integrated residential, commercial, healthcare and lifestyle components.

Its proximity to Universiti Malaysia Sarawak (UNIMAS), Sarawak Heart Centre, and the upcoming ART station supports its positioning as a self-sustaining urban hub.

Unbilled sales stood at RM285.74 million, with an order book of RM961.89 million as of March 31, ensuring earnings visibility.

The Group continues to pursue new government contracts and has reinforced its ESG commitment across future projects.

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