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buy apple developer account :Strong sales by EcoWorld Malaysia

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,EcoWorld Malaysia president and chief executive officer Datuk Chang Khim Wah said the group is grateful to its customers for the strong sales of RM911mil, as the group managed to sustain the sales momentum since the second half of last year.

KUALA LUMPUR: Eco World Development Group Bhd’s (EcoWorld Malaysia) net profit jumped 71% to RM62.4mil in the first quarter ended Jan 31,2021, from RM36.50mil a year ago bolstered by a 60% increase in the group’s share of results from joint ventures, in line with the substantially higher profits recorded by EcoWorld International.

The property developer said cost-saving measures implemented last year led to a decline in administrative expenses by 15.7% compared to a year ago, which contributed to the jump in net profit for the quarter.

As at Feb 28, the group’s future revenue position remains high at RM3.59bil, providing clear earnings visibility, moving forward.

Moreover, EcoWorld Malaysia doubled its sales in the first quarter amounting to RM706mil from RM305mil posted a year ago.

“As at Feb 28, total year-to-date sales amounted to RM911mil, giving the group a good head start to financial year ending Oct 31,2021 (FY21), ” it said in a statement.

EcoWorld Malaysia president and chief executive officer Datuk Chang Khim Wah said the group is grateful to its customers for the strong sales of RM911mil, as the group managed to sustain the sales momentum since the second half of last year.“Total sales achieved by EcoWorld Malaysia over the last 10 months is RM2.88bil, which is close to the highest we have ever achieved in a similar period, even in the pre-Covid era, ” he added.

On a positive note, Chang said the strong start to FY21 was driven by the group’s ongoing promotional campaigns and effectiveness of its digitalisation initiatives that improved lead generation and allowed faster sales conversion cycles.

He added that the strategic expansion of the group’s product range, which includes the new duduk series, have been well-received by homeowners, particularly the Gen-Y and Gen-Z segments of the market.

“There is good take-up to the group’s Eco Business Park project with RM107mil in sales achieved as at Feb 28,2021, close to 50% of the RM220mil achieved in the full 12 months of FY20.

“Our strategic shift to focus on meeting the housing needs of a new generation of homeowners, with products specifically designed to suit their budget, combined with living environments and amenities carefully curated to meet their lifestyle needs and aspirations, has made a real difference, ” he noted.

Meanwhile, Eco World International Bhd posted a net profit of RM56.6mil for the first quarter, which is substantially higher than the RM6mil recorded a year ago.“Gross profit for the first quarter was RM69.64mil, mainly due to the commencement of revenue and profit recognition of the group’s Yarra One project in Melbourne, following the progressive handover of units sold to customers.

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