Home News Room Sunsuria stands at RM74.11 Million with 18% YOY increase in Q2 Revenue

Sunsuria stands at RM74.11 Million with 18% YOY increase in Q2 Revenue

Sunsuria second quarter revenue of 2022 gains 18% YoY to RM74.11 million.

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Sunsuria Berhad (Sunsuria) has just announced their revenue and net profit of RM74.11 million and RM2.72 million respectively for the second quarter ended 31st March 2022 (Q2).

Compared to the recorded revenue of RM62.95 million in the quarter a year prior for Q2 FY2021, Sunsuria has seen improvement with a jump of 18% year-on-year (YoY).

Their revenue year-to-date (YTD) was higher YoY at RM179.84 million compared to RM110.89 million recorded in the corresponding period of the previous year.

The higher YTD revenue for Q2 was due to the sales of Sunsuria’s Monet Garden and completion of Monet Springtime. Additionally, its is also derived from the work progress of Verdura Tower D and Tower E of Bangsar Hill Park at Lorong Maarof in Bangsar.

The contribution from ongoing projects such as Tangerine Suites at Sunsuria City and Sunsuria Forum (Phase 2) @7th Avenue at Setia Alam, have also aided in the rise in revenue.

Meanwhile, Q2 net profit of RM2.72 million has seen a drop from the RM5.12 million recorded in the Q2 FY2021. This difference seen in the net profit was due to the higher sales and marketing expenses, along with the increase in general overheads in the same period.

In Sunsuria’s comparison of revenue quarter-on-quarter, Q2 revenue of RM74.11 million is lower to its RM106.03 million of Q1 revenue.

The difference was due to the higher sale of Monet Garden in Q1 FY2022 and the completion of Monet Springtime.

For the previous quarter, Sunsuria’s net profit of RM7.6 million was higher to its current quarter.

With the Group’s recent addition of land in Ijok and Banting to our existing land bank, we are ready to capitalise on new opportunities for future developments and diversification within the property development industry.

Tan Sri Datuk Ter Leong Yap, Executive Chairman of Sunsuria

Despite the current challenges of global supply chain disruptions and rising input costs, Sunsuria will continue looking forward while being extra vigilant and active in pursuing measures to mitigate the impacts.