PETALING JAYA: S P Setia Bhd’s land monetisation strategy has driven the group’s earnings growth and further improved on its net gearing position, say analysts.
The property group posted core net profit at RM84mil in the third quarter of financial year 2024 (3Q24), up 92% year-on-year largely due to higher profits from land sales, which offset losses from the based Battersea Power Station (BPS) joint-venture project in Britain and lower contributions from its Australian operations.
