9 November 2011
Developer posts 30% jump in FY11 net profit
SHAH ALAM: SP Setia Bhd posted a 30% year-on-year jump in net profit to RM327.97mil for its financial year ended Oct 31, 2011 (FY11). The property developer attributed this mainly to higher selling prices for new launches and the stabilisation in the prices of construction materials. Revenue also increased 27.9% to RM2.23bil.
The group also set a new full-year sales record in FY11 of RM3.29bil, a 42% increase from the previous record of RM2.31bil set in FY10.
 |
| Liew: ‘We target 70% of our product range in Singapore to cater to local upgraders.’ |
It was the fourth consecutive year of increase in the group's sales and represented the second consecutive year that total group sales had exceeded the RM2bil mark, said SP Setia in a Bursa Malaysia filing.
(The sales figures are based on the retail pricing of properties sold, while revenue is recognised in the accounts when the developer is paid at the point of purchase and also when construction is completed in stages.)
SP Setia has proposed a final dividend of 9 sen per share. Together with the interim dividend of 5 sen per share, total dividend for the year works out to be 14 sen per share, representing a payout of about 59% of the group's net profit.
The group's profit and revenue were largely derived from property developments in the Klang Valley, Johor Baru and Penang.
Baca Seterusnya
p/s: when the developer is confident and performing well, is good for investors too.. :)
No comments:
Post a Comment