Glomac Berhad (Glomac) posted a 27.6 percent increase in the pretax profit to RM32.8 million for the first half of its financial year ending 30 April 2010.

Glomac group executive chairman, Tan Sri Dato’ F.D. Mansor commented, “We are satisfied with our performance in this six-month period. Sales have been strong, and since then, we have managed to secure the en-bloc sale of a 25-storey office tower in our Glomac Damansara development for RM170.7 million to Lembaga Tabung Haji.”

According to a press release dated 22 Dec 2009, Glomac achieved strong sales of RM155 million which were mainly contributed to stronger sales from Glomac Damansara and Glomac Cyberjaya, as well as Bandar Saujana Utama township.

The first phase of Glomac Damansara consisting of shop offices with a Gross Development Value (GDV) or RM53 million is fully sold. As for Glomac Cyberjaya which offered 63 three-storey shop offices with a GDV of RM105 million have almost been sold out.

Tan Sri Dato’ F.D. Mansor said, “Robust development activities and a strengthened balance sheet have placed us on a stronger growth platform. We are confident to achieve better results this year, and success in our new projects such as Glomac Damansara and Glomac Cyberjaya will contribute positively to our performance in the next two financial years.” The Group turned in a net cash position of RM19.9 million as at the end of October 2009, and is expected to improve further with the proceeds from the disposal of its investment properties earlier in the year.

“Going forward, our recent acquisition of 7.6acres in Petaling Jaya for RM31.2 million will also add to the Group’s already strong prime future development projects.”