Land & General’s 2Q Net Profit Surges on Strong Property and Education Performance

Land & General Bhd (L&G) reported a sharp improvement in earnings for the second quarter ended Sept 30, 2025 (2QFY2026), supported by stronger contributions from its property development and education businesses, as well as higher profit from joint ventures.

The group posted a net profit of RM14.07 million, a significant jump from RM2.17 million in the same period last year—more than a six-fold increase. Quarterly revenue also strengthened markedly to RM132.83 million, compared with RM48.24 million previously. No dividend was declared for the quarter.

Property Division Delivers Robust Growth

L&G’s property division was the main driver of the improved results:

• Operating profit: RM17.24 million (↑ >4x YoY)

• Revenue: RM119.34 million (↑ >3x YoY)

The strong performance reflects higher progress billings from ongoing developments and steady take-up rates across its projects.

This momentum mirrors market trends seen across Greater Kuala Lumpur, where well-positioned residential and mixed-use projects continue to perform, alongside rising interest in surrounding commercial and industrial corridors such as:

• Commercial property in KL

• Industrial land in Selangor

• Factory zones in Puchong

• Industrial property in the Subang area

• Transit-connected hubs including office space in Bukit Jalil

These locations benefit from sustained demand from homebuyers, SMEs and multinational occupiers.

Education Division Records Steady Improvement

The group’s education arm also posted firmer results:

• Operating profit: RM4.6 million (↑ 12% YoY)

• Revenue: RM11.49 million (↑ 18% YoY)

The improvement was driven by higher student enrolment and increased school fees.

Joint Ventures Contribute Positively

L&G’s share of profit from joint ventures rose to RM1.7 million, compared with RM655,000 a year earlier, further strengthening group earnings.

Six-Month Earnings Quadruple

For the first half of FY2026, the group reported:

• Net profit: RM25.48 million (↑ 4x YoY)

• Revenue: RM231.29 million (↑ 171% YoY)

The surge in revenue and profit underscores the successful execution of ongoing projects and healthy buyer demand.

Outlook: Strong Unbilled Sales Position the Group Well

As at end-September, unbilled sales rose to RM622.23 million, providing strong earnings visibility in the near to medium term.

In the second half of the financial year, L&G plans to launch:

• Laverra in Bandar Sri Damansara

• Begonia in Sena Parc, Senawang

These launches are expected to support continued performance for the remainder of FY2026.

Share Price Movement

L&G’s share price closed half a sen lower at 14.5 sen, valuing the group at RM431 million.