Sunsuria Berhad (“Sunsuria”) announced today its revenue and net profit of RM62.95 million and RM5.12 million for the current quarter under review.
For the three months ended 31st March 2021 (“Q2”), Sunsuria achieved a 31% quarter-on-quarter increase in revenue to RM62.95 million compared to the RM47.94 million recorded in the previous quarter (“Q1 FY2021”).
The higher Q2 revenue was attributed to the Group’s ongoing property developments comprising Monet Springtime, Monet Garden Townhouses and Villa, Giverny Walk dual frontage shop offices and Tangerine Suites at Sunsuria City, as well as Sunsuria Forum (Phase 2) @ 7th Avenue at Setia Alam and Block D Verdura at Bangsar Hill Park at Lorong Maarof in Bangsar.
The Group had achieved a revenue of RM68.08 million in the second quarter of the previous financial year (“Q2 FY2020”). The difference in revenue year-on-year was attributed to the lingering impact of the pandemic.
Net profit for Q2 was at RM5.12 million as compared to the RM5.32 million recorded in the preceding quarter ended 31st December 2020.
Meanwhile, Sunsuria posted a net profit of RM9.02 million in the previous year’s corresponding quarter.
While the acquisition of Bangsar Hill Park that was completed in February 2021 contributed to higher total sales for Q2, the contribution from the project is marginal as the work progress of Block D Verdura is still at the initial stage of development.
The Bangsar Hill Park project has an estimated gross development value (“GDV”) of RM3.01 billion.
“We are hopeful to beat the pandemic in the long run. In the meantime, we will continue to be cautious as we approach the year ahead. Moving forward, we continue to exercise caution in spending and growing the business.
“The pandemic has fundamentally changed the way we live and work, so we too must challenge ourselves to go beyond ‘business as usual’ and to seek out new opportunities for growth. We will continuously improve by reviewing our business strategies and processes for greater efficiency, as we strive to serve our customers better than before,” said Sunsuria’s Executive Chairman Tan Sri Datuk Ter Leong Yap.