Sime Darby Property Bhd's (SDP) net profit for the fourth quarter ended Dec 31, 2022 (4QFY2022) surged 64.34% to RM103.15 million from RM62.77 million a year earlier, on the back of higher revenue.
The increase in the revenue was mainly attributed by higher progress billings across key projects in the Klang Valley and Southern Region as well as higher property sales achieved during the financial period ended Dec 31, 2022.
Noteworthy:
November 2022
Full-year net profit rose to RM180.05 million, from RM160.86 million for FY2021.
The total sales translated into revenue of RM4.45 billion and a profit before tax of RM564.1 million.
Serasi Residences is the first of four phases to be launched within the 25-acre Putra Heights Sentral development, which will comprise residential and commercial components.
He said the Prime Minister Datuk Seri Anwar Ibrahim has signalled through the Budget 2023 that the government is moving in the direction of helping the poor and expecting the high income earners to contribute.
The stronger earnings performance was lifted by recognition of gain on disposal of associates of RM89.02 million, as well as higher revenue incurred for the quarter.
AME REIT said the financial headroom will enable the group to look into exploring future acquisitions within and outside Johor.
Quarterly revenue also surged to RM101.5 million, from RM47.44 million previously.
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