Sime Darby Property Bhd announced stronger-than-expected quarterly earnings, primarily driven by successful new project launches and sustained sales growth from existing developments. The company's shares saw an uptick following the positive report.
Sime Darby Property Bhd today announced encouraging fourth-quarter financial results, with net profit surging 25% to RM115 million, surpassing analysts' consensus estimates. This robust performance was primarily driven by strong sales from its newly launched residential projects in the Klang Valley and Johor, coupled with sustained demand for existing developments. The company reported new sales of RM850 million for the quarter, an 18% increase year-on-year. Sime Darby Property's shares gained 2.1% in midday trading, closing at RM0.735. Management expressed optimism for the 2026 market outlook, anticipating continued recovery in the property sector, supported by favorable government policies and improving consumer sentiment.
Share: