KUALA LUMPUR: SkyWorld Development Bhd, an urban property developer principally involved in investment holding, provision of management services to its subsidiaries and property development, has achieved a revenue of RM148.3 million and a profit before tax (PBT) of RM27.5 million in its unaudited second quarter results during its financial year ending March 31, 2024 (Q2 FY24).
For the quarter under review, SkyWorld also recorded a profit after tax (PAT) of RM19 million and a profit after tax attributable to owners of the company (Patami) of RM19.1 million. There are no comparative figures as SkyWorld was only listed on the Main Market of Bursa Malaysia Securities Bhd on July 10, 2023.
For the first half of the financial year ending March 31, 2024 (1H FY24), SkyWorld posted revenue of RM359.2 million and a PBT of RM86.7 million. The company recorded PAT and Patami of RM61 million and RM61.1 million respectively. 1H FY24 revenue was mainly derived from the progressive revenue recognition of the recently completed SkySierra Residences (The Valley) and from on-going projects namely SkyAwani IV Residences, SkyAwani V Residences, EdgeWood Residences, SkyVogue Residences, Curvo Residences as well as from the sales of completed inventories mainly from SkyMeridien Residences and Bennington Residences.
Founder and non-independent executive chairman Datuk Seri Ng Thien Phing said that despite the challenging and uncertain outlooks in both domestic and global economies, SkyWorld still recorded a robust financial performance in 1H FY24.
“As of Sept 30, 2023, the company has unbilled sales of RM713.9 million and plans to launch new projects in Kuala Lumpur with total estimated gross development values exceeding RM1 billion. As we continue to shape urban landscapes and pioneer innovative solutions, SkyWorld remains steadfast in its pursuit of excellence. Our commitment to quality, driven by our vision of “Always Best City Developer” and with a purpose to “Make Living Better”, sets us apart in the industry. Last but not least, we extend our gratitude to our stakeholders, investors, and the dedicated team at SkyWorld for their unwavering support,” he said.
The board of directors has declared a first interim single-tier dividend of 1.25 sen per ordinary share on 1 billion ordinary shares, amounting to RM12.5 million, which shall be paid on Jan 15, 2024.
