PETALING JAYA: Paramount Corp Bhd has raised its property sales target to RM1.5bil for the financial year 2025 (FY25), up from RM1.4bil in FY24.
The company stated the target was supported by RM1.4bil in planned launches across eight projects, including new phases of existing developments.
In a statement, Paramount noted it also had RM1.8bil worth of properties that had been launched or completed. Unbilled sales stood at RM1.6bil as at FY24 ended Dec 31, 2024, which provides cashflow visibility in the near term.
However, its conversion into billings would depend largely on the projects’ work progress.
In the fourth quarter ended Dec 31, 2024 (4Q24), Paramount’s net profit rose 92% year-on-year (y-o-y) to RM54.1mil, or an earnings per share (EPS) of 8.69 sen, as revenue climbed to RM361.1mil from RM309.3mil in 4Q23.
For the full year, its net profit rose 23.7% y-o-y to RM102.4mil, or an EPS of 16.45 sen, as revenue rose to RM1.04bil from RM1.01bil in FY23. It declared a single-tier third interim dividend of 1.5 sen per share, payable on March 31 which took total FY24 dividend to 7.5 sen a share.
As published: The Star