S P Setia has announced that it has secured total sales of RM1.67 billion for the six months ended 30 June 2022 with profit Before Tax at RM253.4 million against a revenue of RM1.89 billion.
Sales were mainly from the local projects which contributed RM1.38 billion or approximately 83% of the sales, whilst the remaining RM294.0 million were mainly contributed from international sales. “It is worth noting that RM272.0 million of completed inventories were sold, and RM559 million of bookings were secured during this period in review. Our key focus remains steadfast on the swift conversion of the latter into sales,” said Datuk Choong Kai Wai, President & Chief Executive Officer of S P Setia Berhad.
For the quarter under review, the Group had launched a total GDV of RM300.7 million landed properties comprising double-storey terraces, semi-detached, and bungalows. The group says the take-up rate in the new phase in Setia Eco Templer hovers above 90%.
“These two years of disruptions have also enabled us to explore new areas of development to help scale our business, which has resulted in us developing new competencies across the Group and diversifying into new potential revenue streams. One of these diversifications is in the medical service industry, where we have announced our collaboration with Qualitas Medical Group Sdn Bhd to set up an ambulatory care centre in Setia Alam as part of our revenue diversification strategy,” he added.
The Group is currently anchored by 47 ongoing projects with an effective remaining land bank of 7,042 acres. Gross Development Value stands at RM120.88 billion as at 30 June 2022 backed by unbilled sales totalling RM8.71 billion providing earnings visibility in the short to mid-term.
