S P Setia records threefold increase in net profit for 1H24

S P Setia president and chief executive officer Datuk Choong Kai Wai.

PETALING JAYA: S P Setia Bhd reported a net profit of RM404mil for the six-months period ended June 30, 2024 (1H24), an increase from last year’s profit of RM121mil, as it gained RM361mil profit from strategic monetisation of its landbanks in Taman Pelangi Indah 2, Johor and Glengowrie, Semenyih.

Revenue in 1H24 rose to RM2.97bil from RM1.9bil in the previous corresponding period.