PETALING JAYA: Sime Darby Property Bhd recorded a pre-tax profit of RM182mil for the second quarter of 2017, representing an increase of 13 percent compared to last year.
Net profit from continuing operations for the second quarter was almost flat at RM138mil although revenue jumped 65 percent to RM677mil.
“Notwithstanding the subdued consumer sentiment and a competitive industry environment, there remains a resilient demand for products at strategic locations and at the pricing sweet spots. Our key advantage is our strategic landbank and we will continue to offer mid-range products at townships like City of Elmina and Bandar Bukit Raja (BBR),” said Sime Darby Property Bhd managing director Amrin Awaluddin in a statement.
The Group registered a gross sales value of RM1 billion for the first six months, a 21 percent jump from the same period in the previous year.
As for the rest of 2018, the Group will continue to prioritise developments based on market demand, focusing on its core strength of township development and improving operational efficiency and process to achieve higher performance and earnings.
The Group also plans to unlock the value of its land through partnerships and joint ventures, especially for industrial products.
