Sunsuria Q2 Profit Jumps 517%

Sunsuria Q2 Profit Jumps 517%

KUALA LUMPUR, May 24: In its Q2 financial results ended 31 March 2017, Sunsuria Berhad today announced that the Group reported a revenue of RM103.68mil – a record for a single reporting quarter – on the back of strong sales and effective product strategy.

This marked a 63% increase over Q1’s revenue of RM63.80mil, and a 167% increase over the RM38.82mil reported in the same quarter last year.

The Group also saw Q2’s profit before tax of RM31.55mil jump 74% over Q1’s profit of RM18.17mil, which is also a staggering 517% surge over last year’s Q2 profit of RM5.11mil.

“These Q2 numbers signals our determination and confidence to achieve unprecedented growth in 2017. This is only possible through the unwavering support of our customers, and it is testament to the operational quality of Team Sunsuria,” said an upbeat Datuk Ter Leong Yap, Executive Chairman of Sunsuria.

Sunsuria’s impressive Q2 revenue was derived from its on-going works at Suria Residence, The Forum 1 and the Group’s flagship projects at Sunsuria City, which contributed 45% of the revenue.

Mr. Koong Wai Seng, CEO of Sunsuria said that the Group remains optimistic of strong growth despite the subdued property market outlook.

“As our financial results show, we are growing from strength to strength by providing innovative solutions that the market demands and tapping into collaborations that help enhance margins in other subsectors such as ancillary construction work. With the right product mix at the right locations, there will be continuing demand for real estate assets,” he said.

“We have several more exciting products lined up this year and they will be launched in the upcoming months, so stay tuned. All in all, we expect 2017 to be another year of continued financial growth,” he added.

Sunsuria is currently rolling out five on-going developments including Suria Residence at Bukit Jelutong, The Forum 1 at Setia Alam, as well as Bell Avenue, Jasper Square and The Olive in Sunsuria City with total Gross Development Value (GDV) of RM1.193bil.

Last month, Sunsuria acquired a 51% stake in construction company Prosperspan Construction Sdn Bhd (now known as Sunsuria Asas Sdn Bhd) to expand into the construction business.

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