Good 3Q Profits for SP Setia
Last week the Edge, reported that SP Setia announced a net profit of RM44.7million for the third quarter ending July 31. SP Setia is one of the premier quality developers in Malaysia (check out our developer profile here).
This financial result is up 12.4% from RM39.80 million a year ago, on the back of their projects in the Klang Valley and Johor Bahru.
According to the report,
It said that earnings and revenue were mainly derived from the property projects while its construction and wood-based manufacturing activities also contributed to the earnings.
SP Setia said the board was confident the current year’s performance would be better that the previous year.
Further on it also noted that:
It also said it would recognise the profit on the disposal of land to Perbadanan Kemajuan Negeri Selangor upon completion of the sale in the last quarter of the financial year ending Oct 31, 2005.
It looks like the good times are definitely rolling on for SP Setia. For the full report, you can read it here.
