24 Annual Report 2022 The Group’s revenue and profit before tax for the financial year under review and the preceding year are summarised as follows: For the financial year ended 30 September 2022, the Group’s revenue and profit before tax (“PBT”) increased by 6.0% and 6.3% to RM968.1 million (FY2021: RM913.6 million) and RM171.3 million (FY2021: RM161.1 million) respectively mainly due to the contribution from Property Development and Construction Division which recorded higher turnover and profit recognition from ongoing projects, namely MIRAI Residences @ Kajang 2 Precinct 1, TR2 Residence @ Jalan Tun Razak, Iris @ Hillpark Shah Alam and Nexus @ Kajang Station and higher turnover from Plantation Division as a result of higher average selling price of crude palm oil. The Group recorded unrealised foreign exchange gains of RM4.7 million for FY2022 as compared to the preceding year of RM8.0 million from the Plantation Division mainly due to the strengthening of the Indonesian Rupiah (“IDR”) against Ringgit Malaysia (“RM”) based on exchange rate of RM1: IDR3,281 as at 30 September 2022 as compared to RM1: IDR3,419 as at 30 September 2021. Excluding the unrealised foreign exchange gains of RM4.7 million (FY2021: RM8.0 million), the Group’s PBT was higher by 8.8% at RM166.6 million (FY2021: RM153.1 million) which was mainly due to higher profit recognition from Property Development and Construction Division’s ongoing projects, gain on changes in fair value of investment properties totalling RM2.4 million (FY2021: loss on changes in fair value of investment properties of RM5.0 million) coupled with lower interest expenses on loan and borrowings of RM18.2 million (FY2021: RM22.3 million). FY2022 FINANCIAL HIGHLIGHTS Management Discussion & Analysis Report Segments Changes (%) 2022 RM’000 2021 RM’000 Group Revenue 968,126 6.0 913,572 Property Development & Construction 538,450 508,985 5.8 315,817 294,458 7.3 Plantation 30,034 23,949 25.4 Hotel & Property Investment 83,825 86,180 (2.7) Others Segments Group Profit Before Tax 171,254 6.3 161,054 Property Development & Construction 64,723 36,222 78.7 76,623 101,903 (24.8) Plantation 10,472 955 996.5 Hotel & Property Investment 19,436 21,974 (11.6) Others Aerial view of our Plantation Estate Metro Point Complex in Kajang town Artist's Impression of TR2 Residence @ Jalan Tun Razak
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