SP Setia Q2 Pre-Tax Profit Soars To RM344.73 Million
Date：2015/06/17
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KUALA LUMPUR, June 15 -- SP Setia Bhd pre-tax profit for the second quarter ended April 30, 2015 soared to RM344.73 million compared with RM165.37 million in the corresponding quarter of the preceding year.
Revenue rose to RM1.63 billion from RM952.35 million previously on the back of increased revenue and profit recognition from its Australian Fulton Lane project.
In a filing to Bursa Malaysia, SP Setia said amongst the ongoing projects that contributed to the profit and revenue were Setia Alam and Setia Eco-Park (Shah Alam), Setia EcoHill (Semenyih), Setia Eco Glades (Cyberjaya), Setia Sky Residences in Jalan Tun Razak, KL Eco City in Jalan Bangsar (both in Kuala Lumpur), and Aeropod (Kota Kinabalu).
In a separate statement, SP Setia Board of Directors recommended an interim single-tier dividend of four sen per share in respect of the financial year ending Oct 31, 2015, which is consistent with prior year.
Chief Executive Officer Datuk Khor Chap Jen said SP Setia had adapted product launches to mid-priced range products, particularly in the Klang Valley.
The strategy proves fruitful as project launches in Setia Alam, Setia EcoHill and Setia Eco Glades continue to be major contributors to sales due to its strategic locations and good infrastructure, he added.