KUALA LUMPUR: LBS Bina Group Bhd’s (LBS Bina) net profit jumped to RM95.1 million in the financial year ended Dec 31, 2021 (FY2021) from RM44.12 million in the same period a year earlier.

       Its revenue increased to RM1.4 billion from RM1.1 billion previously, driven by better revenue in property development as well as construction and trading.

       LBS Bina told Bursa Malaysia that its projects in the Klang Valley remained the largest revenue contributor, accounting for more than 80 per cent of the group’s revenue for FY2021.

       Its hotel segments also posted stronger revenue due to the reopening of the tourism sector and the lifting of interstate travel lifted in October 2021.

       The group said it is cautiously optimistic about the property market due to its pricing and product range in strategic locations.

       "The group aims for RM1.6 billion in property sales for FY2022.

       "There will be 14 new project launches with a total gross development value (GDV) of RM1.77 billion, consisting of 3,733 units in the Klang Valley, Johor, Pahang, and Perak,” it said. - Bernama