KUALA LUMPUR: Sunsuria Bhd
posted 23% higher fourth quarter earnings of RM30.2mil, bringing its full-year net profit to RM90.7mil, more than double the net profit recorded in the previous financial year.
Revenue for the quarter rose to RM108.25 mil from RM87.72mil in the year-ago quarter as a result of new revenue streams from the Olive and Bell suites launched in FY2017. Full year revenue nearly doubled to RM398.48mil from RM202.4mil.
Earnings per share for the financial year stood at 11.36 sen compared to 5.73 sen in the previous year.
According to the group, the increase in revenue and net profit for the financal year owed to the positive takeup of Sunsuria’s residential and commercial developments, namely The Forum 1, Suria Residence, Bell Avenue, Jasper Square, 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 Koong Wai Seng, CEO of Sunsuria.
“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 added.
Sunsuria also noted that executive chairman Tan Sri Datuk Ter Leong Yap received The Edge Malaysia Outstanding Property Entrepreneur Award 2017 and a 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 under RM3bil.
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