KUALA LUMPUR (March 22): S P Setia Bhd’s earnings rose 19.3% to RM74 million in the first quarter ended Jan 31, 2012 compared with RM62.04 million a year ago due to higher selling prices for its products while it said it was on target to achieve its FY2012 sales target of RM4 billion.
It said on Thursday its revenue, however, declined 5.2% to RM491.58 million from RM518.88 million. Earnings per share were 4.01 sen compared with 4.07 sen.
“Ongoing projects which contributed to the profit and revenue achieved include Setia Alam and Setia Eco-Park at Shah Alam, Setia Walk at Pusat Bandar Puchong, Setia Sky Residences at Jalan Tun Razak, Bukit Indah, Setia Indah, Setia Tropika and Setia Eco Gardens in Johor Bahru and Setia Pearl Island, Setia Vista and Setia Greens in Penang,” it said.
However, S P Setia said the group’s current quarter profit before tax of RM100.7 million was RM8.3 million lower than the preceding quarter ended Oct 31, 2011.
“This is partly attributable to slower progress of works during the festive season. The profit before tax for current quarter is however 15% higher than previous year corresponding quarter of RM87.4 million,” it said.
On its sales, S P Setia said they totalled RM933 million which was the group’s highest ever sales in a single quarter and was 27% higher on-year.
“As at Feb 29, 2012, the group’s sales for the first four months of the financial year totalled RM1.23 billion – another new record and a 29% increase from the corresponding period last year.
“The group is therefore well on target to achieve and deliver its FY2012 sales target of RM4 billion,” it said.
It said on Thursday its revenue, however, declined 5.2% to RM491.58 million from RM518.88 million. Earnings per share were 4.01 sen compared with 4.07 sen.
“Ongoing projects which contributed to the profit and revenue achieved include Setia Alam and Setia Eco-Park at Shah Alam, Setia Walk at Pusat Bandar Puchong, Setia Sky Residences at Jalan Tun Razak, Bukit Indah, Setia Indah, Setia Tropika and Setia Eco Gardens in Johor Bahru and Setia Pearl Island, Setia Vista and Setia Greens in Penang,” it said.
However, S P Setia said the group’s current quarter profit before tax of RM100.7 million was RM8.3 million lower than the preceding quarter ended Oct 31, 2011.
“This is partly attributable to slower progress of works during the festive season. The profit before tax for current quarter is however 15% higher than previous year corresponding quarter of RM87.4 million,” it said.
On its sales, S P Setia said they totalled RM933 million which was the group’s highest ever sales in a single quarter and was 27% higher on-year.
“As at Feb 29, 2012, the group’s sales for the first four months of the financial year totalled RM1.23 billion – another new record and a 29% increase from the corresponding period last year.
“The group is therefore well on target to achieve and deliver its FY2012 sales target of RM4 billion,” it said.
