KUALA LUMPUR: SP Setia recorded total sales of RM6.27b in the 10 months for its financial year ending Oct 31, 2013, which exceeded its target of RM5.5bil, as its international property sales gathered momentum.
It said on Wednesday the record-breaking sales this year reflected the property gropup’s success in both Malaysian and international markets.
“As at Aug 31, total international sales amounted to RM2.533bil of which RM1.247bil was contributed by the group’s 40% share of the sales achieved by the Battersea Power Station joint-venture project in Central London,” it said.
SP Setia said two other overseas projects – Fulton Lane in Melbourne and Eco Sanctuary in Singapore – contributed significantly to sales numbers. It added Fulton Lane recorded RM409mil in sales during the year and Eco Sanctuary RM877mil.
SP Setia Bhd’s earnings were marginally higher at RM101.88mil in the third quarter ended July 31, 2013 from RM100.40mil a year ago. Its revenue rose 16.4% to RM761.50mil from RM654.19mil. Earnings per share were 4.14 sen compared with 5.21 sen.
For the first nine months, its earnings rose 8.9% to RM290.56mil from RM266.79mil a year ago. Its revenue rose at a stronger pace of 22.5% to RM2.16bil from RM1.76bil a year ago.
Elaborating on the overseas projects, SP Setia president & CEO Tan Sri Liew Kee Sin said SP Setia’s foray into the Australian market has borne well for the group.
“Fulton Lane’s success spurred us to look for a second venture in Melbourne and we recently previewed Parque Melbourne to overwhelming response,” he said.
As for Eco Sanctuary in Singapore, launched at the start of the year, saw most of units sold to Singaporean purchasers.
Liew said whilst the group is expanding overseas, its strong Malaysian base remained the main contributor to earnings.
Sales from the group’s Malaysian projects totalled RM3.737bil as at Aug 31, 2013 compared with RM3.55bil for the full FY2012. - The Star Biz
It said on Wednesday the record-breaking sales this year reflected the property gropup’s success in both Malaysian and international markets.
“As at Aug 31, total international sales amounted to RM2.533bil of which RM1.247bil was contributed by the group’s 40% share of the sales achieved by the Battersea Power Station joint-venture project in Central London,” it said.
SP Setia said two other overseas projects – Fulton Lane in Melbourne and Eco Sanctuary in Singapore – contributed significantly to sales numbers. It added Fulton Lane recorded RM409mil in sales during the year and Eco Sanctuary RM877mil.
SP Setia Bhd’s earnings were marginally higher at RM101.88mil in the third quarter ended July 31, 2013 from RM100.40mil a year ago. Its revenue rose 16.4% to RM761.50mil from RM654.19mil. Earnings per share were 4.14 sen compared with 5.21 sen.
For the first nine months, its earnings rose 8.9% to RM290.56mil from RM266.79mil a year ago. Its revenue rose at a stronger pace of 22.5% to RM2.16bil from RM1.76bil a year ago.
Elaborating on the overseas projects, SP Setia president & CEO Tan Sri Liew Kee Sin said SP Setia’s foray into the Australian market has borne well for the group.
“Fulton Lane’s success spurred us to look for a second venture in Melbourne and we recently previewed Parque Melbourne to overwhelming response,” he said.
As for Eco Sanctuary in Singapore, launched at the start of the year, saw most of units sold to Singaporean purchasers.
Liew said whilst the group is expanding overseas, its strong Malaysian base remained the main contributor to earnings.
Sales from the group’s Malaysian projects totalled RM3.737bil as at Aug 31, 2013 compared with RM3.55bil for the full FY2012. - The Star Biz
