Glomac swings back to black with RM7.6mil net profit in Q1
KUALA LUMPUR: Glomac Bhd returned to the black in the first quarter ended July 31, 2026 with a net profit of RM7.6 million from a loss of RM1.42 million a year ago.
Glomac Bhd reported a net profit of RM7.6 million in the first quarter ended July 31, 2026, reversing a loss of RM1.42 million from the previous year. Revenue for the quarter rose to RM68.53 million, more than double the RM26.05 million recorded in the same period last year. The significant increase in revenue was primarily driven by the property development segment, which saw a rise of RM41.9 million, largely due to heightened development activities on ongoing projects.
Property investment revenue remained stable at RM6.6 million during the period. Glomac remains optimistic about its financial outlook for the year, citing timely execution of ongoing development projects and planned launches. The company's directors and senior management are committed to monitoring market conditions, managing costs prudently, and executing projects effectively to deliver long-term value to shareholders. Glomac's share price remained unchanged at 31 sen, valuing the company at RM249.03 million.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
