Country View 3Q net profit rises 3.4% to RM15.58 million, declares eight sen dividend
Country View Bhd posted a 3.4% rise in net profit to RM15.58 million for the third quarter ended Aug 31, 2026, despite a 3.1% drop in revenue to RM76.56 million. The property developer declared a second interim single-tier dividend of eight sen per share, payable Dec 7.
PETALING JAYA (Oct 30): Country View Bhd’s net profit rose 3.4% to RM15.58 million in the third quarter ended Aug 31, 2026 (3QFY2026), from RM15.07 million a year earlier, supported by higher-margin properties and lower marketing and financing costs despite a decline in revenue.
Revenue fell 3.1% to RM76.56 million from RM79.03 million, according to its Bursa Malaysia filing on Thursday (Oct 29). Earnings per share increased to 15.58 sen from 15.07 sen. The developer declared a second interim single-tier dividend of eight sen per share, payable on Dec 7 to shareholders on the register as at Nov 16. Together with its first interim dividend of 12 sen, this brings dividends declared in respect of FY2026 to 20 sen per share.
Country View said quarterly profit before tax rose 16% to RM23.46 million, supported by construction progress on higher-margin properties, including the Aurora Avenue three-storey semi-detached shops at Aurora Sentral in Iskandar Puteri, Johor. The sale of a completed bungalow at Residence at The Peak in Johor also contributed, alongside lower marketing and promotion expenses and finance costs.
Gross profit increased to RM30.53 million from RM28.67 million, while finance costs fell to RM530,000 from RM1.72 million. Tax expense, however, rose to RM7.88 million from RM5.17 million, tempering net profit growth. The group said the year-earlier quarter had recorded more property sales, mainly affordable homes under the Rumah Mampu Milik Johor scheme, and higher revenue recognition from construction progress at Aurora Resort Villas.
For the nine months ended Aug 31, net profit fell 10.2% to RM57.03 million from RM63.51 million, while revenue declined 12.6% to RM258.79 million from RM296.05 million. Country View said the corresponding period a year earlier had benefited from sales of three commercial land parcels in Taman Nusa Sentral, Iskandar Puteri.
On a quarter-on-quarter basis, net profit fell 26.2% from RM21.10 million, while revenue declined 8.2% from RM83.42 million. The group said the preceding quarter had benefited from construction progress at Aurora Avenue and Aurora Resort Villas, as well as the sale of a commercial land parcel designated for a petrol station in Taman Nusa Sentral.
Total bank borrowings stood at RM27 million as at Aug 31, down from RM119.62 million a year earlier. The group attributed the reduction to repayments of term loans and revolving credit facilities, together with no utilisation of overdraft facilities. Country View said it remained cautious about the Johor property market amid uncertainty arising from the war in the Middle East and broader geopolitical and trade tensions. It expects sales and construction progress at Taman Nusa Sentral, Aurora Resort Villas and Aurora Avenue to contribute to its revenue and performance for the financial year ending Nov 30, 2026.
