News & Articles CGS-CIMB: LBS Bina to achieve this year's sales target with aggresive new launches
CGS-CIMB: LBS Bina to achieve this year's sales target with aggresive new launches
2 Mar 2022
Property developer LBS Bina Group Bhd's 2022 RM1.6 billion sales target should be achievable, given its steady sales momentum and aggressive launches lined up for the financial year 2022, said CGS-CIMB Securities.
LBS is also poised to benefit from the government's focus on affordable housing as the majority of its products are priced below RM500,000, the research house said.
"The key downside risks are a deterioration in property market sentiment and a lower-than-expected sales," it said.
Nevertheless, with bookings in the pipeline at RM394.3 million, the house is retaining an "add" call with a target price of 64 sen based on the potential value from its development at Zhuhai International Circuit (ZIC) in China and improving balance sheet.
LBS Bina's 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, while revenue increased to RM1.4 billion from RM1.1 billion previously.
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. - Bernama
LBS is also poised to benefit from the government's focus on affordable housing as the majority of its products are priced below RM500,000, the research house said.
"The key downside risks are a deterioration in property market sentiment and a lower-than-expected sales," it said.
Nevertheless, with bookings in the pipeline at RM394.3 million, the house is retaining an "add" call with a target price of 64 sen based on the potential value from its development at Zhuhai International Circuit (ZIC) in China and improving balance sheet.
LBS Bina's 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, while revenue increased to RM1.4 billion from RM1.1 billion previously.
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. - Bernama
Source: NST.com.my
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