PETALING JAYA: Sarawak-based property and infrastructure developer Ibraco Bhd posted a 48.2% year-on-year (y-o-y) jump in net profit to RM72.3 million for the financial year ended Dec 31, 2025 (FY25), supported by stronger construction and property development contributions as well as higher other income.
Revenue for FY25 rose 36.6% to RM769.0 million from RM562.8 million in FY24.
The construction segment was the largest contributor, with revenue increasing 58.6% YoY to RM419.9 million, accounting for 54.6% of total revenue. The property development segment grew 17.2% to RM300.5 million, representing 39.1% of group revenue.
Revenue from the manufacturing segment expanded 44.5% to RM19.8 million, while quarry operations edged up 0.5% to RM18.4 million. The remaining RM10.4 million was derived from property holding, management and clubhouse operations.
Despite stronger revenue, gross profit rose marginally by 0.8% to RM146.9 million from RM145.7 million previously. Gross profit margin softened to 19.1% from 25.9%, largely due to a higher revenue mix from the lower-margin construction segment.
However, net profit margin improved to 9.4% from 8.7%.
Other income surged to RM37.2 million from RM8.6 million, mainly due to compensation received for land acquired by the government as well as fair value gains on investment properties.
For the fourth quarter ended Dec 31, 2025 (Q4’25), revenue declined to RM189.7 million from RM236.5 million a year earlier, mainly due to softer performance from the construction and property development segments.
Gross profit for the quarter fell to RM29.8 million from RM49.3 million in Q4’24, while net profit stood at RM15.0 million compared with RM22.0 million previously. Net profit margin eased to 7.9% from 9.3%.
As at Dec 31, 2025, Ibraco recorded unbilled sales of RM304.3 million and an outstanding order book of RM734.9 million, providing earnings visibility.
The group said it remains optimistic about Malaysia’s economic outlook in 2026, supported by accommodative monetary policies and infrastructure initiatives, while continuing to focus on its township developments including NorthBank in Kuching and Arden City in Kota Samarahan, alongside its expansion into the light industrial segment.
