Sunway Records Lower Pre-tax Profit In Q1 2017

Sunway Records Lower Pre-tax Profit In Q1 2017

KUALA LUMPUR, May 30: Sunway Bhd’s pre-tax profit fell to RM153.12 million in the first quarter ended March 31, 2017 from RM176.08 million in the same period last year on the back of lower contribution from several business segments.

The group is a conglomerate with core interests in property, construction, education and healthcare.

Revenue for the quarter increased to RM1.09 billion from RM1.07 billion a year earlier due to higher contribution from all business segments, except property development, said the group in a filing to Bursa Malaysia today.

The property investment segment reported a revenue of RM186.9 million and a pre-tax profit of RM31.1 million in the current quarter, compared with a revenue of RM169.2 million and a pre-tax profit of RM33.5 million in the corresponding quarter of the previous financial year.

“Barring any unforeseen circumstances, the group is expected to deliver a satisfactory performance in the next quarter,” said Sunway.

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