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Thursday, February 28, 2013

Dijaya Q4 profit advances 18%

Source: http://biz.thestar.com.my/news/story.asp?file=/2013/2/28/business/12771840&sec=business


PETALING JAYA: Dijaya Corp Bhd announced an 18.14% jump in net profit to RM60.2mil and a 48.42% increase in revenue to RM234.06mil on the back of record sales of RM967mil from its flagship projects for its fourth quarter to Dec 31, 2012.
On a full-year basis, net earnings increased 119.7% to RM169.2mil on the back of a 68% jump in revenue to RM630.06mil. Earnings per share almost doubled from 16.89 sen in 2011 to 32.13 sen in 2012. Dijaya also announced a first and final dividend of 6.4 sen less tax for 2012.
Dijaya told Bursa Malaysia that the board had also approved the incorporation of the revaluation surplus, net of deferred tax of approximately RM10.34mil, in the consolidated financial statements for 2012. The revaluation surplus will increase the net assets per share by RM0.01 for 2012.
The group's record sales of approximately RM967mil mainly came from its flagship projects; such as the Tropicana Danga Bay development in Johor Baru, along with Tropicana Avenue and Tropicana Gardens in the Klang Valley.
“In the past two years, Dijaya has grown exponentially in size and has diversified geographically by acquiring premium land banks across Malaysia. We now have more than 364.22ha of land in prime locations, namely, in the Klang Valley, Kuala Lumpur City Centre, Iskandar region in Johor Baru, Penang and Sabah, with a total estimated gross development value of RM50bil.
“These strategic land places us in a good position, helping us focus on our growth and sustainability within these hot spots for the next 10 years.” said group chief executive officer Datuk Yau Kok Seng.
Dijaya will maintain its growth momentum in 2013 with planned launches that include W Kuala Lumpur Hotel and The Residences,Penang World CityTropicana Gardens in Kota Damansara, Tropicana Metropark in Subang, Tropicana Heights in Kajang, and Tropicana Danga Cove in Johor. As at Dec 31 2012, Dijaya had unbilled sales of RM951mil.

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