KUALA LUMPUR (Aug 26): Eastern & Oriental Bhd’s (KL:E&O) first-quarter net profit was up 21.1% on higher profits from all segments of its business, particularly residential and commercial property development and its investment portfolio.

The property developer made a net profit of RM45.4 million for the quarter ended June 30, 2025 (1QFY2026), compared with RM37.5 million for the quarter a year ago.

Revenue was also higher at RM183.5 million, compared with RM165.7 million for 1QFY2025.

First-quarter revenue rose by 10.8%, driven by strong sales and steady project progress. The newly launched Conlay Signature Suites saw over 40% take-up, showing strong interest from local and international buyers.

No dividend was declared for the quarter, according to the bourse filing.

The group said its hospitality division performed well with solid occupancy, especially in Penang, where growth is expected due to more direct regional flights. Additionally, new visa waivers between Malaysia and China from July 2025 are likely to boost Chinese tourist arrivals.

E&O plans to launch Phases 3 and 4 of Senna and Fera, featuring 68 landed homes on Andaman Island. Following strong sales in Phases 1 and 2, the company expects a positive response to the new launch.

It is also preparing to launch three projects in 3QFY2026. These include the second waterfront development on Andaman Island, comprising 1,080 units of luxury high-rise condominiums, as well as a mixed offering of landed homes and retail shop lots in Elmina.

E&O’s share price was down 1.18% or one sen at 84 sen at Tuesday’s noon break, giving it a market capitalisation of RM2.1 billion. Year to date, the stock is down 11.58%.