Sime Darby Property Bhd announced better-than-expected latest quarterly results, with net profit soaring 45% year-on-year, driven by strong sales and project progress. The company maintains an optimistic outlook for the coming year, supported by strategic land bank acquisitions and robust demand.
Sime Darby Property Bhd today announced its latest quarterly results, which exceeded market expectations, with net profit soaring 45% year-on-year to RM125 million. This strong performance was primarily attributed to robust sales performance and accelerated project progress in its existing developments, particularly in the Greater Kuala Lumpur area and Johor. The company noted in its earnings report that newly launched residential and industrial property projects received positive market responses. Management expressed optimism for the outlook in the coming year, anticipating the property market to remain resilient, driven by supportive government policies and ongoing urbanization. The company also plans to continue optimizing its land bank and focusing on segments with high growth potential.
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