Sime Darby Property Bhd announced a robust 15% year-on-year increase in its fourth-quarter net profit, reaching RM120 million, significantly exceeding market consensus. Strong property sales and accelerated project progress were identified as the primary drivers behind this impressive performance. The company's strategic focus on affordable housing and township developments has paid off, contributing to a healthy balance sheet and positive outlook for the coming fiscal year.
Sime Darby Property Bhd today announced an encouraging fourth-quarter financial report, with net profit surging 15% year-on-year to RM120 million, significantly surpassing analysts' previous forecasts of RM100 million. The company's revenue also saw an 8% increase, reaching RM850 million. Management attributed the robust performance to strong sales across its key township developments, including Elmina City and Serenia City, coupled with accelerated construction progress. The company also declared a final dividend of 2 sen per share. Looking ahead, Sime Darby Property expressed confidence in sustaining its growth momentum through the launch of more affordable housing and strategic land development projects, despite a challenging market environment. Its share price rose 2.3% today, closing at RM0.90.
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