Property developer Radium registered revenue of RM30.6 million net profit off RM489,000 for the second quarter ended, this was however significntly lower from RM2.5 million in profit the company registered in Q2FY23 despite revenue being slightly higher.

Net profit for the 1H also declined from RM5.5 million to RM2.4 million despite reveue being higehr at RM58 million.

The company is currently developing the Suite Canselor and Residensi Desa Timur projects, which commenced their main building work during the current period. Compared to the preceding year ended in June, Radium cut down its marketing expenses from RM9.1 million in the same period of the preceding year to RM6.5 million in the current period under
review. This decrease was due to the recognition of advertisement expenses on the group's branding activities to promote its corporate identity in the preceding period.

The company said it s cautiously optimistic that the financial performance of the year 2024 to be satisfactory despite challenging economic situations, e.g. the volatility in interest rate, political uncertainty and fluctuations in the prices of the building materials etc. which may have adverse effect on our business operations, financial position and performance.