Sime Darby Property Berhad concluded its fiscal year ended 31 December 2023 with its highest post-2017 demerger revenue and operating profit, reaching RM3.4 billion and RM606.4 million, respectively. This marks its second consecutive year of exceptional results following its commendable FY2022 record of RM436.2 million operating profit.
The Group achieved RM3.3 billion in sales, surpassing its RM2.7 billion sales target. Year-on-year, Profit after tax and
minority interest grew by 29%, totalling RM407.9 million compared to RM315.8 million in the previous year. Sime Darby Property declared total dividends of 2.5 sen per share in FY2023.
The Group’s revenue of RM3.4 billion marked a 25% YoY improvement, with profit before tax registering a 33% YoY increase to RM610.3 million. The increase in revenue and PBT it said was primarily attributed to the robust sales performance and higher site progress in major townships within the Property Development Segment, supported by contributions from non-core land monetisation activities.
Sime Darby Property’s Group Managing Director, Dato’ Azmir Merican said, “Our exceptional performance, coming on the heels of FY2022’s results, certainly demonstrates our operational and financial competencies, against the backdrop of an uncertain operating environment in 2023as a result of supply chain constraints, foreign exchange movement and labour issues. We set high targets, and are pleased to have far exceeded these expectations. Our results reflect our execution capability and equally important, our SHIFT25 targets continue to progress well and remain on track.”
The board declared a second single tier dividend of 1.5 sen per share in Q4 FY2023.This brings total dividends for FY2023 to 2.5 sen per share, amounting to RM170 million.
