KUALA LUMPUR: Glomac Bhd expects its earnings performance in the current financial year to remain modest. This reflects lower property sales brought on by a more measured pace in past launches, Glomac group executive chairman Tan Sri FD Mansor said. Glomac’s net profit was down 92.27 per cent to RM1.4 million in the second quarter (Q2) ended October 31, 2017, from RM18.25 million a year ago. In an exchange filing today, Glomac said its revenue for the quarter had risen 30 per cent to RM109.93 million from RM83.99 million previously. “The overall property market may remain subdued.

Source: New Strait Times November 27, 2017 11:26 UTC