JBB BUILDERS (01903) announced that the Group expects to achieve a profit attributable to owners of the company of approximately RM1.3 million for the year ending June 30, 2025, compared to a profit attributable to owners of approximately RM3.0 million for the year ended June 30, 2024.

The financial performance for the year ending June 30, 2025 has shifted from an expected loss position as previously disclosed to an expected profit position. This improvement is primarily attributed to a reduction of approximately RM8.6 million in the provision for impairment losses on trade receivables and contract assets, based on updated expected loss rates determined by independent valuers after considering new information.

Consequently, the provision for impairment losses on trade receivables and contract assets to be recognized for the year ending June 30, 2025 will be significantly lower than the amount previously expected in prior announcements.