KUALA LUMPUR: NCT Alliance Bhd reported a higher revenue of RM58.4 million in its second quarter ended June 30,2023, reflecting a 20% increase compared with the same quarter last year. Meanwhile, profit after tax (PAT) for the quarter under review stood at RM9.3 million, while profit before tax (PBT) came in at RM11.9 million. The lower profitability was primarily due to higher staff costs and bank facility charges, as well as marketing promotional costs for the quarter.
For the cumulative six-month period ended June 30, 2023, the group recorded a revenue of RM113.4 million, up by 13% from RM100.3 million in last year’s corresponding period. PAT stood at RM16.3 million while PBT came in at RM21.3 million. The reduction in profitability mainly arose from expenses incurred from the group’s employee share option scheme, coupled with staff costs and bank facility charges.
Additionally, the group recorded net gearing of 29%, a reduction from 39% in FY2022. This was achieved through the continuing repayment of borrowing from Grand Ion Majestic project progress collections.
Executive chairman and group managing director Datuk Sri Yap Ngan Choy, said, “While our bottom line was impacted in the period under review, we continued to record solid growth in revenue. This was mainly driven by our ongoing projects namely Grand Ion Majestic and Acacia Residences along with the sale of completed stocks in our Grand Ion Delemen project.”
“This is indeed testament to the strong value proposition that we offer through our various projects, which continue to attract buyers due to their strategic locations and range of features. As we move ahead, we look forward to building on this momentum to enhance our prospects and deliver sustainable growth.”