UEM Sunrise Q2 earnings up 73%, boosted by higher revenue - Business News
PETALING JAYA: UEM Sunrise Bhd posted a set of commendable results which saw its net profit surged by 73% for the second quarter ended June 30 , 2017, boosted by its higher property development revenue . Net profit for the period stood at RM94.5mil compared with RM54.7mil a year ago. Revenue for the second quarter jumped by 67% to RM897.8mil from RM537.8mil in the same period last year. Earnings per share rose to 2.08 sen from 0.93 sen previously. For the first six months, total revenue increased to RM1.44bil compared with RM795.6mil in the corresponding period in 2016, an increase of about 81%. Profit after tax rose by 170% to RM155.8mil from RM57.7mil previously. Property development activities contributed 67 % of total revenue for the current period with the three major revenue contributors being Residensi 22 in Mont’Kiara, Aurora Melbourne Central in Melbourne and Teega in Puteri Harbour. Projects in the central region contributed the highest; 42% of property development rev...