KUALA LUMPUR: SP Setia Bhd’s earnings rose nearly 1.3% to
RM131.31mil in the fourth quarter ended Oct 31, 2014 from RM129.64mil a
year ago underpinned by the strong sales for its international projects.
“The group achieved RM922mil sales in Q4 of FY2014, bringing total
sales for the group for the full financial year to RM4.62bil and total
unbilled sales to RM11.10bil,” it said on Tuesday.
The property developer reported revenue rose 27.7% to RM1.233bil
from RM965.68mil a year ago. Its earnings per share was 5.19 sen
compared with 5.27 sen.
It rewarded shareholders with a dividend of 5.7 sen a share.
SP Setia said the international projects contributed RM1.80bil
(39%) towards the group’s total sales for the current financial year.
Sales contribution from the group’s international projects continue
to be strong and further underscores the management’s deep conviction
to venture into international projects in established global cities like
London and Melbourne.
On the Malaysian projects, it said despite the period of softness
following the implementation of the property cooling measures
implemented by Bank Negara Malaysia at the beginning of the financial
year, the group posted a satisfactory result of RM2.82bil sales.
SP Setia said there was strong support for its launches during the
financial year focusing on land banks with ready infrastructure and
amenities like Setia Alam and Setia Eco Park.
“Projects such as Setia EcoHill and Setia Eco Glades will benefit
from new infrastructure projects including the Klang Valley Mass Rapid
Transit (KVMRT) project,” it said.
For the financial year ended Oct 31, 2014, its earnings were
RM405.67mil, which was 3% lower when compared with RM418.35mil in the
previous financial year. However, its revenue rose 16.8% to RM3.810bil
from RM3.261bil a year ago.
SP Setia’s acting president and CEO Datuk Voon Tin Yow said its
sales performed well due to the strong and loyal customers who continue
to believe in our brand.
“On the international front, S P Setia continues to obtain high
brand acceptance among the locals in London, Melbourne and Singapore.
“As for Malaysia, we are confident that once the market stabilises,
aggressive demands for properties will return as Malaysia is a young
nation with a growing population,” he said.
