SkyWorld Development Berhad announced its unaudited first quarter results for the financial year ending 31 March 2024 posted revenue of RM210.8 million and profit before tax of RM59.2 million. In addition, SkyWorld recorded a profit after tax of RM41.9 million and a profit after tax attributable to owners of the Company of RM42.0 million. There are no comparative figures as SkyWorld was only listed on the Main Market of Bursa Malaysia Securities Berhad on 10 July 2023.
The group’s revenue was mainly derived from the progressive revenue recognition from on-going projects, namely SkySierra Residences (The Valley), SkyAwani IV Residences, SkyAwani V Residences, EdgeWood Residences, SkyVogue Residences, Curvo Residences as well as from the sales of completed inventories, mainly from SkyMeridien Residences and Bennington Residences.
SkyWorld founder and non-independent executive chairman Datuk Seri Ng Thien Phing said, “We are pleased to report our positive first quarter results as we set foot into a new financial year. As of 30 June 2023, the Company has unbilled sales of RM951.9 million which will be progressively recognised in the upcoming years. Moreover, as part of our 2024 strategy, we plan to launch new projects in the Klang Valley with total estimated gross development value exceeding RM1 billion.”
“Moving forward, we remain committed to adaptability and resilience, traits that have guided us through the tests of time, and customer satisfaction, as we continue to focus on our ongoing and future developments. We remain dedicated to provide homes rooted in innovations and excellent qualities. Ultimately, as we continue to grow our business, enhancing shareholder value remains at the forefront of SkyWorld,” he added.
