Sunsuria doubles net profit to RM90.7mil

Sunsuria doubles net profit to RM90.7mil

22 November, KUALA LUMPUR – Sunsuria Berhad (Sunsuria) today announced its Q4 financial results, recording year-to-date revenues of RM398.5mil and net profit of RM90.7mil, reflecting the company’s bullish performance amid a challenging operating environment.

Revenue for financial year ended (FYE) 30 Sept 2017 rose 97% to RM398.5mil from RM202.4mil while net profit more than doubled to RM90.7mil from RM43.8mil recorded a year earlier.

The increase in revenue and net profit was attributed to the positive take-up of Sunsuria’s residential and commercial developments, namely The Forum 1, Suria Residence, Bell Avenue, Jasper Square, The Olive and Bell Suites.

Year-on-year, its Q4 revenue increased 23% to RM108.3mil from RM87.72mil recorded in the corresponding quarter last year, as a result  of new revenue streams from two new projects launched in FY2017 – The Olive and Bell Suites.

“There will always be a demand for housing and real estate investments that offer outstanding value. With our properties’ competitive pricing, strategic location, innovative features and conscientious design, we believe we will continue to chart positive growth in our financial performance” said Mr Koong Wai Seng, CEO of Sunsuria.

“Our customers recognize the outstanding value of our developments and we are confident that our Smart, Livable and Sustainable approach towards property development will continue to resonate strongly with Malaysians. With a healthy level of unbilled sales and new projects lined up in FY2018, we look forward to continuing this upward trajectory and touching more lives in the coming year,” he said.

To cap the year off on a high note, Sunsuria’s Executive Chairman Tan Sri Datuk Ter Leong Yap was named The Edge Malaysia Outstanding Property Entrepreneur Award 2017 at the recent The Edge Malaysia Property Excellence Awards.

This comes after Sunsuria’s Gold award win in the Property Sector at The Edge Billion Ringgit Club Corporate Awards 2017 for ‘Highest Returns to Shareholders Over Three Years’ among companies with  market capitalisation of below RM3 billion.

 

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