Sunway net profit falls to RM81mil in Q3

KUALA LUMPUR (Bernama) -- Sunway Bhd’s net profit fell to RM81 million in the third quarter ended Sept 30, 2021 (Q3FY21) from RM116 million in the same period a year ago.

Revenue, however, rose slightly to RM1.07 billion from RM1.03 billion on the better performance of property development and healthcare, offsetting the lower revenue from other business divisions.

The property development segment reported revenue of RM197 million in the third quarter against RM103 million in the previous corresponding period, while the healthcare division revenue rose to RM208 million from RM168 million.

Other businesses posted a higher revenue of RM138.4 million versus RM66.1 million previously, it said in a filing to Bursa Malaysia today, However, the property investment division revenue declined to RM58 million in Q3FY21 from RM98 million previously, and the construction segment revenue dropped from RM255 million to RM193 million.

The trading and manufacturing segment also posted a lower revenue of RM186 million from RM231 million and the quarry segment revenue reduced to RM84 million compared to RM106 million previously.

The group expects the financial performance for the last quarter of the year to improve against the third quarter, as the economic recovery is projected to strengthen further as most economic activities resume, especially social and local tourism-related activities.

"This augurs well for the group, particularly our leisure and hospitality operations which were severely impacted by the extended lockdowns," it noted.

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