KUALA LUMPUR: Property developer Paragon Globe Bhd has attributed its highest-ever quarterly profit to strong performance in its property development segment.
The company recorded a revenue of RM61.1 million in the second quarter for its 2025 financial year (Q2FY25), representing a year-on-year (YoY) increase of 257.4 per cent.
Net profit surged to RM9.1 million, a remarkable 2089.4 per cent increase from the same period last year.
The company's pre-tax profit also reached a record high of RM12.7 million.
The property development segment remained Paragon Global's primary revenue driver, contributing over 99 per cent of total revenue.
Key contributors to the performance included strategic land sales in Desa Cemerlang, Johor and robust sales of detached factories and shop offices in Pekan Nenas, Johor.
Executive chairman Datuk Seri Edwin Tan Pei Seng said the results reflected the company's strategic focus on delivering high-value property development projects and effectively navigating market opportunities.
"Our achievements in Desa Cemerlang and Pekan Nenas demonstrate the effectiveness of our strategy in capturing demand and driving performance," he added.
Tan is optimistic for the future, citing favourable economic conditions and recent strategic milestones as key growth drivers.
The recent signing of development rights agreements with Iskandar Capital Sdn Bhd and Tropicana Danga Bay Sdn Bhd will enable the company to accelerate project timelines and leverage synergies with established partners.