SP Setia president and CEO Datuk Khor Chap Jen said in Q1 FY17, the group secured sales of RM426.8mil
KUALA LUMPUR: SP Setia posted stronger earnings of RM136.32mil in the second quarter ended June 30, 2017 and also announced it had secured sales of RM2.07bil in the first half of the year.
The property developer said on Thursday its earnings were up 8.3% from RM125.78mil a year ago. Its revenue dipped to RM794.71mil from RM1.013bil. EPS were 4.78 sen compared with 4.79 sen.
It rewarded shareholders with a dividend of four sen a share, similar to a year ago.
SP Setia, in announcing that it secured sales of RM2.07bil in the first half of 2017 and is “on track to achieve its sales target of RM4bil for the year in review”.
For the first half, its earnings were at RM241.50mil compared with RM249.17mil in the previous corresponding period. Its revenue was lower at RM1.73bil compared with RM1.92bil.
SP Setia president and CEO Datuk Khor Chap Jen said: “The sales achieved reflect an increased demand for the group’s projects in the second quarter of FY2017."
Local projects contributed RM1.08bil whereas RM996.5mil was derived from international projects.
The local sales secured were largely from the central region with RM797.3mil, while the southern and northern regions contributed RM278.9mil.
On the Australia operations, the strong sales of RM799mil were mainly contributed by the Sapphire By The Gardens project in Melbourne.
Other international projects from UK’s Battersea Power Station, Vietnam and Singapore, contributed the balance of RM197.5mil.
Khor said for the into the second half of FY17, the group will focus on the local market especially in the central region.
“There is strong underlying demand for owner occupied mid-range landed properties in strategic locations with good infrastructure, secured and self-sustained townships especially Klang Valley.
“Hence, we will be emphasising the launches of mid-range landed properties in the Group’s flagship townships of Setia Alam, Setia EcoHill, Setia EcoHill 2, Setia Eco Templer and Setia Eco Glades in the next half year of FY2017,” he added.
Limited time offer:
Just RM5 per month.
