Property developer, Sunsuria Berhad announced its fourth quarter and full-year financial results with the group achieving a 26.1% year-on-year revenue growth to RM507.2 million from RM402.2 million in the last financial year.
Profit before tax in FY2023 climbed to RM47.9 million, indicating a 37.3% growth from RM34.9 million last year, the group said this was driven by an enhanced 2 project mix, the Group also recorded a higher PBT margin of 9.4% in FY2023 as compared to 8.7% last year.
However, Sunsuria reported a lower net profit attributable to owners of the company at RM13.9 million as compared to RM16.6 million previously.
On quarterly performance, Q4 FY2023 revenue grew 75.6% YoY to RM175.4 million, up from RM99.9 million in the previous year’s corresponding quarter. The improvement was mainly due to a higher sales take-up rate and construction work progress for both ongoing and newly launched projects.
Correspondingly, PBT for Q4 FY2023 increased by 60% to RM16.0 million from RM10.0 million previously while the group’s net profit was down to RM1.2 million as compared to RM2.07 million previously.
As at 30 September 2023, Sunsuria’s unbilled sales amounted to RM 926.8 million, the group said with construction progress being on track, the gradual billing throughout the construction phase will provide the Group with earnings visibility in the near future.
