Sunway Construction Group Profit Soars 73% As Orders Picks Up

Sunway Construction Group Berhad reported a set of strong financial performance amidst rising material costs with revenue surging 37.2% year-on-year to RM624.7 million in 1Q 2022, this was underpinned by strong growth from the construction and Precast segments.

Profit before tax soared 73.1% y-o-y to RM47.2 million on the back of higher profit contributions from the construction segment.

For the quarter, the construction segment registered a jump in revenue of 39.5% to RM587.8 million, from RM421.3 million in 1Q 2021. The precast segment’s revenue increased 8.9% y-o-y to RM36.9 million for the quarter under review, supported by higher outstanding order books.

Commenting on the result, Group Managing Director Liew Kok Wing said “We are cautiously optimistic that the Group is in a good position to register commendable growth in this financial year based on our existing order book.”

He added, “We are actively pursuing opportunities in the private and public sectors, including Private Funding Initiatives projects. We believe that we are well-positioned to participate in the tender for any large infrastructure projects based on the Group’s solid financial position and strong track record locally and abroad in highway projects as well as urban rail transit projects, such as the MRT 1 & 2, LRT 2 & 3, and BRT.”   

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