KUALA LUMPUR – Sime Darby Property Bhd’s net profit for the second quarter ended June 30, 2022 jumped to RM105.0 million from RM23.21 million a year ago, driven by its steady product launches throughout the pandemic period which registered commendable take-up rates.
Revenue for the quarter under review also rose 22.6% to RM615.61 million from RM501.97 million previously, contributed by strong development site progress at its major townships from June onwards as well as sales of products with higher margins.
In a filing with Bursa Malaysia today, the property developer said the group remains committed to achieving its product launch target of RM2.8 billion in gross development value for 2022.
It said RM1.5 billion worth of products were launched in the first half of 2022, garnering a 94% average take-up rate for residential properties excluding statutory products as of August 7. – Bernama, August 25, 2022
