UEM Sunrise sees stronger 3Q profit on better savings, land disposal

UEM Sunrise sees stronger 3Q profit on better savings, land disposal

The Edge Markets - Malaysia·2019-11-26 16:19

KUALA LUMPUR (Nov 26): UEM Sunrise Bhd's net profit grew 28% on-year to RM27.1 million in its third quarter ended Sept 30, 2019 (3QFY19), from RM21.17 million before, thanks to project development savings and higher margin from the land disposal in Iskandar Puteri.

Quarterly revenue, however, contracted 24% to RM327.61 million from RM430.1 million in 3QFY18, due to lower settlement of Aurora Melbourne Central and Conservatory, and lower sales of completed units, its stock exchange filings today showed.

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