Sunsuria Berhad (Sunsuria) has just recently announced its financial results of the fourth quarter (Q4 FY2022) and twelve months (12M FY2022) for the period ended 30 September 2022.
In Q4 FY2022, The Group has achieved a significant increase in revenue with 4.0% year-on-year (YoY) to RM99.9 million compared to RM95.6 million in Q4 FY2021. Additionally, their profit before tax (PBT) is marginally lower to RM10.9 million. This is due to the higher finance cost charged as expense from the current year’s new projects.
In 12M FY2022, Sunsuria saw an increase in cumulative sales of RM850.9 million as compared to the cumulative sales of RM384.8 million in 12M FY2021. The strong sales figures are due to the keen interest of the market in the Group’s development projects which include Bangsar Hill Park, Sunsuria Forum (Phase 2), and Tangerine Suites at Sunsuria City township.
For the revenue of 12M FY2022, Sunsuria experienced a rise by 50.0% to RM402.2 million as compared to RM268.7 million in the corresponding period last year. The improvement in performance is due to Monet Garden at Sunsuria City township as well as from on-going projects; Sunsuria Forum (Phase 2), Tangerine Suites at Sunsuria City township, and Bangsar Hill Park (Block A, D, and E).
As at 30 September 2022, Sunsuria’s unbilled sales stood at RM946.7 million, which will support earnings visibility in the coming financial years.
Against the backdrop of normalising economic activities and reopened international borders, we are seeing a gradual improvement in consumer sentiment in the property development industry….We are proactively managing the operating environment challenges such as upward inflationary pressure and rising interest rates by implementing effective supply chain management and value engineering to optimize the cost structure of our project developments.Tan Sri Datuk Ter Leong Yap, Executive Chairman of Sunsuria