Glomac Berhad Interim Financial Report Q3FY26: Revenue, Profit, and Segment Performance Highlights

Glomac Berhad Q3 FY2026 Interim Financial Results – Key Highlights for Investors

Overview of Financial Performance

Glomac Berhad has released its unaudited interim financial results for the nine-month period ended 31 January 2026, revealing several notable developments that are of significant interest to shareholders and potential investors.

Revenue and Profit Growth

Revenue Surge: The Group posted a significant increase in quarterly revenue to RM64.6 million, up RM30.9 million from the RM33.7 million recorded in the same quarter last year. For the cumulative nine-month period, revenue reached RM146.4 million.
Profitability: Profit before tax (PBT) rose sharply to RM7.1 million for the current quarter, compared to RM3.3 million in the corresponding period last year. The cumulative nine-month PBT stands at RM12.0 million.
Net Profit: Profit attributable to owners for the quarter was RM5.2 million (3QFY25: RM1.9 million), translating to basic earnings per share of 0.67 sen.

Segmental Insights

Property Development: This remains the main revenue driver, with Q3 revenue at RM57.6 million (up from RM26.3 million YoY). The nine-month segment revenue was RM125.4 million, reflecting strong development activities.
Property Investment: Rental income from investment properties and carparks saw stable inflows at RM6.6 million for the quarter and RM20.0 million for the period, supported by improved occupancy rates.
Other Operations: Revenue from property management services contributed to the Group’s diversified income streams.

Key Financial Position

Solid Asset Base: Total assets stand at RM1.79 billion, with investment properties valued at RM339.4 million and a robust land bank for future development.
Healthy Cash Reserves: Cash and cash equivalents at the end of the period were RM183.1 million.
Borrowings: Total borrowings remained steady at RM236.4 million, with the Group actively managing its debt profile, including secured and unsecured borrowings.

Dividends and Shareholder Returns

Dividend Payment: A single-tier final dividend of 1.25 sen per share (amounting to RM9.59 million) was paid on 18 December 2025 for the year ended 30 April 2025. No interim dividend was declared for the current quarter.

Significant Corporate Developments

Proposed Disposal of Leasehold Lands – Potential Price-Sensitive Event

On 5 January 2026, Glomac Al Batha Sdn Bhd (GABSB), a 51%-owned subsidiary, entered into Sale and Purchase Agreements for the disposal of two plots of leasehold land in Pekan Desa Puchong, Selangor, to Sunway Kiara Sdn Bhd for a total cash consideration of RM97.3 million.
Strategic Rationale: The disposal is expected to unlock property value and allow Glomac to reduce borrowings and interest expenses, thereby strengthening the Group’s balance sheet.
Status: Sunway Kiara has paid a 10% deposit. The transaction is subject to the fulfillment of all conditions precedent.

Legal Updates – Material Litigation

Soon Hoe Chuan v Glomac Berhad: The Court of Appeal dismissed the Plaintiff’s appeal and awarded costs to Glomac. Both parties have filed Notices of Leave to Appeal to the Federal Court, with hearings set for 30 April 2026. While the outcome remains pending, the High Court has thus far ruled in favour of Glomac.

Other Noteworthy Items

Effective Tax Rate: The Group’s effective tax rate was higher than the statutory rate due to the non-recognition of deferred tax assets in certain loss-making subsidiaries.
No Major Capital Commitments: As at 31 January 2026, there were no outstanding capital commitments.
No Financial Forecast or Profit Guarantee: The Group has not issued any financial forecasts or profit guarantees for the period.

Outlook

Despite ongoing geopolitical uncertainties, tax regime adjustments, and cost pressures, Glomac remains focused on prudent cost management, timely execution of ongoing projects, and future launches. The Group expects performance for FY2026 to be broadly consistent with the previous year, barring unforeseen circumstances.

Potential Share Price Catalysts

The proposed RM97.3 million land disposal could significantly strengthen Glomac’s balance sheet if completed, potentially impacting share value positively.
Improved operating profit, lower finance costs, and stable property investment income may bolster investor confidence.
Ongoing litigation (favourable High Court and COA outcomes to date) does not appear to pose an immediate financial threat, but the final Federal Court outcome should be monitored.

Disclaimer

This article is for informational purposes only and does not constitute investment advice. Investors are advised to review the full financial report and consult with their professional advisers before making any investment decisions. The information presented here is based on the unaudited interim report for the period ended 31 January 2026 and may be subject to further revision or updates.