[%CJqi%] 
Research by TA
BUY – TP RM0.64

" Revving Up for Growth”

To recap, Glomac’s 1QFY25 net profit surged 79% YoY to RM7.3mn, exceeding expectations due to higher development margins. The gross profit margin improved to 31% from 26% a year ago, driven by increased contributions from commercial properties, unlike last year’s lower margin from affordable housing products. Looking ahead, management expects the gross profit margin to remain around 30%, supported by a more favourable product mix that includes high margin launches like commercial units and semi-Ds

Analyst:  
Thiam Chiann Wen
[%yplr%]

$KLSE-GLOMAC 
Research by TA
BUY – TP RM0.64

" Revving Up for Growth”

To recap, Glomac’s 1QFY25 net profit surged 79% YoY to RM7.3mn, exceeding expectations due to higher development margins. The gross profit margin improved to 31% from 26% a year ago, driven by increased contributions from commercial properties, unlike last year’s lower margin from affordable housing products. Looking ahead, management expects the gross profit margin to remain around 30%, supported by a more favourable product mix that includes high margin launches like commercial units and semi-Ds

Analyst:  
Thiam Chiann Wen
cwthiam@ta.com.my