KUALA LUMPUR, 22 February 2022 – Affordable housing and integrated township developer Lagenda Properties Berhad (“Lagenda” or “the Group”, Stock Code:7179) has today released its fourth quarter financial results for the three months ended 31 December 2021 (“4Q2021”).

In 4Q2021, Lagenda registered revenue of RM251.1 million which was 36% and 47% above the revenue recorded in the two preceding quarters being 3Q2021 and 2Q2021, respectively. This shows that our catch-up initiatives have yielded positive results and revenue is back on track to pre-pandemic levels. Profit after tax and minority interests (“PATAMI”) for 4Q2021 closed at RM56.4 million as compared to RM45.5 million in 3Q2021. For the twelve months ended 31 December 2021 (“FY2021”), Lagenda’s revenue increased by 20% to RM835.5 million as compared to the previous financial year, and PATAMI increased by 42% to RM200.5 million.

As at 31 December 2021, the Group’s unbilled sales stood at RM604 million while outstanding bookings were RM649 million. Together with this solid set of results, Lagenda declared a second interim dividend of 3.5 sen per ordinary share. To-date, total dividends declared in respect of FY2021 aggregates to RM53.9 million, representing a payout ratio of 27%.

Managing Director of Lagenda, Dato’ Jimmy Doh <拿督卓致明> said: “Our cumulative sales and bookings for the year up to 31 December 2021 was RM1.4 billion. We consider this a commendable performance given the continued challenges posed by the pandemic in FY2021. Lagenda’s achievements demonstrate the demand resiliency of the affordable housing segment which continues to be underserved.

We have set the wheels in motion to achieve our vision to be a Nationwide Affordable Township Developer. To scale and expand across more states in the most expeditious manner, we have a joint venture arrangement with Inta Bina Group Berhad to undertake construction of our projects outside Perak. Lagenda is on a growth trajectory and will be rolling-out townships in Kedah and Johor besides our home turf in Perak. Our net cash position and low gross gearing of 0.23 times augur well for further expansion and land acquisition opportunities.

At Lagenda, we are constantly looking for ways to further add value to increase the attractiveness of our townships with sustainability in mind. We are already working to install 1,000 residential solar PV systems across three township projects in the state of Perak. Recently, Lagenda has also partnered with ESCAPE brand creators, Sim Leisure Group for the design, construction and operation of recreational parks in our current and future townships. Emphasis will be on utilising environmentally friendly materials and construction methods to optimise green spaces across our developments. Although affordably priced, all our homes are landed properties and Lagenda’s townships provides facilities and amenities that would benefit and enhance our residents’ lifestyle”, he added.