Paramount trims 2025 sales target to RM1.2bil

KUALA LUMPUR: Paramount Corp Bhd has revised its 2025 sales target to RM1.2bil from RM1.5bil, in light of Malaysia's moderated economic outlook and ongoing property market challenges.

“The 2025 launch pipeline is also scaled back to RM1.0bil from RM1.4bil. Despite these challenges, the group is focused on optimising sales performance and enhancing operational efficiency to maintain resilience in this evolving market,” the developer said in the notes accompanying its financial results.

“The group's unbilled sales of RM1.5bil as at June 30 will provide near-term visibility on the group's cashflow though the conversion into billings will largely depend on the projects' work progress,” it added.

In the second quarter ended June 30, 2025 (2Q25), Paramount reported a 10% decline in net profit to RM21.8mil, translating into earnings per share of 3.50 sen, compared with RM24.2mil, or 3.89 sen, in the same period last year.

Quarterly revenue was largely unchanged at RM232.5mil, versus RM232.9mil a year ago.

In the first six months, Paramount posted a net profit of RM36.2mil, up 13.3% from RM31.9mil, while revenue grew by 11% to RM450.4mil against RM405.5mil last year.

The board of directors has declared a single-tier interim dividend of 3.0 sen per share for the financial year ending Dec 31, 2025.

The dividend will be paid on Sept 18 to shareholders registered in the Record of Depositors as of Sept 4.