KUALA LUMPUR: Radium Development Berhad (“Radium” or “the Group”) (KLSE: RADIUM), a leading Klang Valley property developer, has reported robust financial results for the financial year ended 31 December 2024 (“FYE2024”), driven by strong project performance and strategic expansion.
Radium’s revenue rose 19.1% to RM152.8 million (FYE2023: RM128.3 million), supported by key projects such as Suite Canselor @ Ampang, Vista Adesa, and Radium Adesa @ Sungai Besi. Profit before tax (“PBT”) surged 29% to RM24.9 million (FYE2023: RM19.3 million), attributed to higher revenue and improved cost efficiencies.
In 4Q FYE2024, revenue jumped 63.3% to RM46.2 million (4Q FYE2023: RM28.3 million), though PBT was lower at RM9.5 million (4Q FYE2023: RM15.3 million) due to a one-off fair value gain in the previous year.
As of 31 December 2024, Radium maintains a strong balance sheet with RM244.5 million in cash and a low gross gearing ratio of 0.13 times against shareholders’ funds of RM767.6 million.
Strategic Growth & Market Expansion
Radium continues expanding its project pipeline, with the successful launch of Radium Arena @ Old Klang Road (GDV: RM550 million) and high take-up rates for Desa East Residences. Recent land acquisitions in Cheras and Ampang add GDVs of RM2.54 billion and RM470 million, respectively, strengthening future development prospects.
Diversifying beyond property development, Radium is entering the hospitality sector with a 145-room boutique hotel at Suite Canselor @ Ampang, marking a new growth avenue.
Future Outlook
Datuk Gary Gan Kah Siong, Group Managing Director, stated:
“Our strong FY2024 results underscore Radium’s resilience and growth potential. Demand for our developments remains strong, and our strategic land acquisitions, coupled with diversification into hospitality, position us for long-term success. With a solid financial base and a low gearing ratio, we are well-placed to drive sustainable growth and enhance shareholder value.”
Moving forward, Radium will continue expanding its land bank in prime locations, diversifying revenue streams, and delivering high-quality projects to meet evolving market demands.
