KUALA LUMPUR, May 26 (Bernama) — IOI Properties Group Berhad (“IOIPG”) achieved a revenue of RM737.8 million for Q3 FY2022, which is an increase of 27% compared to preceding year corresponding quarter. The increase in revenue is mainly attributed to better performance by all business segments.
In the property development segment, the Group registered an increase of 25% in revenue to RM605.9 million and an increase of 45% in operating profit to RM265.0 million compared to preceding year corresponding quarter. The hike in revenue and operating profit in the current year quarter is mainly attributable to further progress made in construction activities for ongoing developments and the higher number of vacant possession of completed projects that had been disrupted by the lockdown in Malaysia in the previous quarters.
