Sunway's share price up on higher Q3 earnings

PETALING JAYA: Sunway Bhd's share price rose 0.61% this morning after the group reported higher earnings for the third quarter ended Sept 30, 2017.
At 11.11am, its share price rose 1 sen or 0.61% to RM1.65 with a total of 1.04 million shares traded. Sunway closed 1.86% higher at RM1.64 with 4.98 million shares traded yesterday.
During the quarter under review, the group’s net profit rose rose 5% to RM150.85 million from RM143.61 million a year ago helped by earnings from its property investment segment.
Profit before tax for the quarter however was marginally lower at RM167.78 million, compared with RM170.84 million for the same quarter in 2016 on lower profits from quarry and property development segments.
Revenue increased 16% to RM1.42 billion compared with RM1.14 billion in the previous year's corresponding quarter due to higher contribution from most business segments, particularly the property investment, construction and trading and manufacturing segments.
For the nine months period, net profit jumped 14% to RM455.71 million from RM400.07 a year ago due to higher contribution from most business segments, particularly the property investment, construction and trading and manufacturing segments.
Revenue increased 8.6% to RM3.65 billion compared with RM3.36 billion in the previous year's corresponding period.