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Update S P Setia total sales doubles to RM8.24b
by Cals Thu 12 Dec 2013, 15:00
Update S P Setia total sales doubles to RM8.24b
Business & Markets 2013
Written by Zatil Husna of theedgemalaysia.com
Thursday, 12 December 2013 14:42
KUALA LUMPUR (Dec 12): S P Setia Bhd’s sales for the financial year ending Oct 31, 2013 doubled to RM8.24 billion compared to RM4.23 billion last year.
In a filing to the stock exchange this afternoon, the property developer said the higher sales were due to mainly from both its international and domestic projects.
Its international projects include the Battersea Power Station in United Kingdom, Eco Sanctuary in Singapore and Fulton Lane and Parque Melbourne in Australia.
The group’s domestic operations contributed about RM5 billion for FY13, which was 41% higher than last year.
“Klang Valley sales saw the highest growth with RM2.84 billion recorded versus RM1.85 billion secured in FY2012.
“This was largely due to the overwhelming demand for affordable homes launched in the group’s matured Setia Alam and Precinct 15, Putrajaya projects as well as continued strong take-ups achieved by the eco-themed Setia Eco Glades in Cyberjaya following its first launch at the start of the year,” it said.
Furthermore, the group’s projects in Johor Bahru achieved sales of RM1.6 billion which was 18% higher than last year.
“This solid growth from an already high base is largely due to the market leadership of the Setia brand down south as well as the positive interest in Iskandar projects prevailing during the year.
“In Penang and East Malaysia, sales of RM463 million and RM90 million were recorded respectively,” the group added.
For the fourth quarter ended Oct 31 (4QFY13), the group recorded net profit of RM127.29 million, marginally higher than RM127.02 million year-on-year (y-o-y).
Its revenue for the 4QFY13 climbed to RM900.16 million from RM763.62 million previously.
The group said the slightly higher profit after tax was due to RM12 million expense for the company’s long-term incentive plan (LTIP) for its employees, granted in May this year.
For the full year period, the group’s net profit jumped 6% to RM417.85 million from RM393.81 million y-o-y.
Revenue rose to RM3.06 billion from RM2.52 billion previously.
S P Setia has proposed a final dividend of seven sen per share.
Business & Markets 2013
Written by Zatil Husna of theedgemalaysia.com
Thursday, 12 December 2013 14:42
KUALA LUMPUR (Dec 12): S P Setia Bhd’s sales for the financial year ending Oct 31, 2013 doubled to RM8.24 billion compared to RM4.23 billion last year.
In a filing to the stock exchange this afternoon, the property developer said the higher sales were due to mainly from both its international and domestic projects.
Its international projects include the Battersea Power Station in United Kingdom, Eco Sanctuary in Singapore and Fulton Lane and Parque Melbourne in Australia.
The group’s domestic operations contributed about RM5 billion for FY13, which was 41% higher than last year.
“Klang Valley sales saw the highest growth with RM2.84 billion recorded versus RM1.85 billion secured in FY2012.
“This was largely due to the overwhelming demand for affordable homes launched in the group’s matured Setia Alam and Precinct 15, Putrajaya projects as well as continued strong take-ups achieved by the eco-themed Setia Eco Glades in Cyberjaya following its first launch at the start of the year,” it said.
Furthermore, the group’s projects in Johor Bahru achieved sales of RM1.6 billion which was 18% higher than last year.
“This solid growth from an already high base is largely due to the market leadership of the Setia brand down south as well as the positive interest in Iskandar projects prevailing during the year.
“In Penang and East Malaysia, sales of RM463 million and RM90 million were recorded respectively,” the group added.
For the fourth quarter ended Oct 31 (4QFY13), the group recorded net profit of RM127.29 million, marginally higher than RM127.02 million year-on-year (y-o-y).
Its revenue for the 4QFY13 climbed to RM900.16 million from RM763.62 million previously.
The group said the slightly higher profit after tax was due to RM12 million expense for the company’s long-term incentive plan (LTIP) for its employees, granted in May this year.
For the full year period, the group’s net profit jumped 6% to RM417.85 million from RM393.81 million y-o-y.
Revenue rose to RM3.06 billion from RM2.52 billion previously.
S P Setia has proposed a final dividend of seven sen per share.
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