KUALA LUMPUR: Sunway Bhd
’s net profit jumped to RM2.67bil within the monetary 12 months ended Dec 31, 2021 (FY21) from RM357.25mil in the identical interval a 12 months earlier.
The group mentioned the upper earnings had been due to improved working efficiency, underpinned by the stronger contributions from property funding, building and different segments.
Its income elevated to RM3.71bil from RM3.21bil primarily due to the upper income recorded from property funding and different segments.
Sunway mentioned its property funding phase reported income of RM624.2mil for FY21 in contrast to RM494.6mil within the earlier monetary 12 months.
“This was due to improved sales and progress billings from local development projects as well as higher contribution from the completion and handover of two local development projects in the second half of the year,” it added.
Sunway mentioned the development phase recorded income of RM1.11bil in FY21 in contrast to RM990.2mil within the corresponding 12-month interval primarily due to greater progress billings from native building tasks and improved profit margins.
Sunway mentioned the current spike in Covid-19 infections, extended international provide chain disruptions and rising inflationary pressures main to the tightening financial insurance policies may hamper the financial restoration within the close to to medium time period.
“While the downside risks are noted, the group is now operationally better prepared to manage the consequential impact,” it added. — Bernama
