KUALA LUMPUR: UEM Sunrise Bhd’s net profit rose to RM27.09 million in the third quarter (Q3) ended Sept 30, 2019, compared with RM21.17 million in the same period last year.
In a filing with Bursa Malaysia today, it said, however, revenue fell to RM327.61 million from RM430.10 million, largely due to lower settlement of the Aurora Melbourne Central and Conservatory projects and lower sale of completed units.
“The lower contribution from the international segment was cushioned by the higher construction progress of domestic projects such as Residensi Astrea and Eugenia-Serene Heights in the Central region and Aspira ParkHomes and 68 Avenue in Southern region as well as Iskandar Puteri land sale of RM22 million,” it said.
As at September 30, 2019, the group’s unbilled sales stood at RM2.4 billion while property development sales for the current period amounted to RM720 million.
On its prospects, the group said it will continue to consolidate margins through smart spending and project cost savings in addition to its strategy to divest non-strategic assets.