Sunsuria doubles pre-tax profit

Sunsuria City, Monet Lily – First Landed Residential Launched in Q1 FY2018 with Take up Rate more than 70%

26 February, KUALA LUMPUR – Sunsuria Berhad (Sunsuria) today announced its Q1 financial results, achieving revenues of RM110.82mil and a pre-tax profit of RM38.37mil, on the back of its new project launches last year.

Revenue for Q1 ended 31 Dec 2017 rose 74% to RM110.82mil from RM63.8mil year-on-year while pre-tax profit more than doubled by 111% to RM38.37mil from RM18.17mil recorded in the same quarter last year.

Quarter-on-quarter, revenue grew to RM110.82mil in Q1 2018 from RM108.25mil in the preceding quarter.

Sunsuria City’s Bell Suites SOHO and Monet Lily projects, along with additional sales and work done recorded from Forum 1, Suria Residence, Bell Avenue, Jasper Square and The Olive developments contributed to the Group’s positive Q1 performance.

Monet Lily, Sunsuria City’s first landed residential development, was launched in the current quarter under review.

“Focusing on our customers and consistently delivering products that are relevant to the market have stood us in good stead financially. Our positive Q1 results is the perfect start to 2018, as it has given us the impetus to strive for excellence in the months ahead,” said Mr Koong Wai Seng, CEO of Sunsuria.

“The Group is also seeking shareholders’ approval to diversify beyond property development into construction and related businesses. Additional revenue and income streams will enhance the Group’s future profitability prospects, improve our financial position and enhance shareholders’ value. The proposed diversification will also open up new business opportunities in the Group’s best interest moving forward,” he said.