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Sunway’s 2Q net profit up 30%, declares five sen dividend
by Cals Fri 28 Aug 2015, 12:13
Sunway’s 2Q net profit up 30%, declares five sen dividend
KUALA LUMPUR: Sunway Bhd ([You must be registered and logged in to see this image.] Financial Dashboard)’s net profit grew 30% in its second quarter ended June 30, 2015 (2QFY15), to RM237.91 million or 13.54 sen a share from RM182.53 million or 10.59 sen a share a year ago. The jump was mainly due to the higher fair value gain recorded by Sunway Real Estate Investment Trust (REIT).
Its revenue, however, fell13.6% in 2QFY15 to RM1.04 billion (against RM1.2 billion previously) due to higher elimination of intra-group construction revenue, which increased by RM230 million in the current quarter, and lower revenue from the trading and manufacturing segment .
It also proposed a dividend of five sen per share, to be paid on a date to be fixed.
For the first half ended June 30, 2015 (1HFY15), its net profit rose 34.2% to RM384.45 million or 22.03 sen per share (versus RM 286.52 million or 16.62 sen a share previously), boosted by realised capital gains of RM22.9 million from the sale of two properties in the first quarter and the share of higher fair value gain recorded by Sunway REIT. Revenue for 1HFY15 fell 5.8% to RM2.1 billion, from RM2.23 billion a year ago, due to the higher elimination of intra-group construction revenue.
Going forward, Sunway said it will continue to adopt a cautious strategy and strengthen its operational efficiency to meet the economic challenges ahead.
This article first appeared in digitaledge Daily, on August 28, 2015.
KUALA LUMPUR: Sunway Bhd ([You must be registered and logged in to see this image.] Financial Dashboard)’s net profit grew 30% in its second quarter ended June 30, 2015 (2QFY15), to RM237.91 million or 13.54 sen a share from RM182.53 million or 10.59 sen a share a year ago. The jump was mainly due to the higher fair value gain recorded by Sunway Real Estate Investment Trust (REIT).
Its revenue, however, fell13.6% in 2QFY15 to RM1.04 billion (against RM1.2 billion previously) due to higher elimination of intra-group construction revenue, which increased by RM230 million in the current quarter, and lower revenue from the trading and manufacturing segment .
It also proposed a dividend of five sen per share, to be paid on a date to be fixed.
For the first half ended June 30, 2015 (1HFY15), its net profit rose 34.2% to RM384.45 million or 22.03 sen per share (versus RM 286.52 million or 16.62 sen a share previously), boosted by realised capital gains of RM22.9 million from the sale of two properties in the first quarter and the share of higher fair value gain recorded by Sunway REIT. Revenue for 1HFY15 fell 5.8% to RM2.1 billion, from RM2.23 billion a year ago, due to the higher elimination of intra-group construction revenue.
Going forward, Sunway said it will continue to adopt a cautious strategy and strengthen its operational efficiency to meet the economic challenges ahead.
This article first appeared in digitaledge Daily, on August 28, 2015.
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