Sunsuria Q3 net profit soars

PETALING JAYA: Sunsuria Bhd's net profit for the third quarter ended Dec 31, 2014 (Q3) more than doubled to RM1.17 million from RM500,000 a year ago, driven by its property development segment.
Revenue for the quarter was more than four times higher at RM23.16 million from RM5.02 million a year ago.
"The increase was mainly contributed by the property development segment that is Trivo, a commercial shop offices project and Suria Residence, a serviced apartments project," it said in a filing with Bursa Malaysia yesterday.
The group said the property development segment recorded a revenue of RM15.27 million and pre-tax profit of RM3.85 million for Q3 while the manufacturing segment recorded a revenue of RM4.18 million and pre-tax profit of RM226,000.
For the nine months ended Dec 31, 2014, net profit rose 138.54% to RM2.98 million from RM1.25 million a year ago while revenue rose 271.93% to RM56.03 million from RM15.07 million a year ago.
"The property development business remains as the key growth driver of the group and is expected to contribute higher revenue and profit for the group's current financial year performance, thus outperforming the financial performance of previous year," it said.