Sunsuria Berhad (“Sunsuria”) announced its revenue and net profit of RM47.5 million and RM9.14 million for the current quarter under review in which the Group’s property developments Bell Suites SOHO & Retail, Monet Springtime and Monet Garden contributed substantially to Q1 revenue.
For the three months ended 31st December 2019, Sunsuria achieved RM47.5 million in revenue compared to the revenue of RM104.8 million recorded in the preceding quarter.
Net profit for Q1 was at RM9.14 million as opposed to the RM19.72 million recorded in the preceding quarter. Sunsuria also achieved a year-to-date revenue and net profit of RM47.5 million and RM9.14 million respectively, compared to RM82.95 million and RM10.67 million respectively in the previous year’s corresponding quarter.
The difference in Q1 revenue and net profit year-on-year was due to the completion of The Olive and Monet Lily projects in the final quarter of the previous financial year. Both developments contributed to total revenue of RM45.55 million to the Group in the previous year’s corresponding quarter.
Meanwhile, The Olive and Monet Lily contributed a total revenue of RM58.22 million to the Group in Q4 FY2019, resulting in a quarter-on-quarter variance of RM57.31 million in revenue and RM10.59 million in net profit in the current reporting quarter.
Among the Group’s ongoing projects include Bell Suites SOHO & Retail, Monet Springtime, Monet Garden, Giverny Walk and Tangerine Suites at Sunsuria City, as well as Forum 2 SOHO, Offices and Serviced Apartments in Setia Alam.
“Given the recent Covid-19 outbreak, we foresee a challenging outlook for 2020 but remain committed to continue delivering excellence in value-added products and customer service in the months ahead. By consistently ensuring that our Sunsuria team is aligned with our core values of integrity, quality and reliability, we are confident that prioritising our customers’ needs will put the business in good stead regardless of market sentiment,” said Sunsuria’s Executive Chairman Tan Sri Datuk Ter Leong Yap.