KUALA LUMPUR (Aug 23): S P Setia Bhd won silver at The Edge Billion Ringgit Club Awards 2017 in the category of companies with the highest growth in profit after tax for over three years in the property sector.
The award is evaluated based on the company's compound profit before tax growth for a period of three years, whereby S P Setia did not pose any losses throughout the period.
S P Setia president and chief executive officer Datuk Khor Chap Jen was in attendance to receive the award at a gala dinner on Monday.
“It is indeed a great honour for S P Setia to be recognised for our positive growth, despite the soft property market landscape these past three years.
“Throughout the years, our commitment to sustainability and innovation has not waivered and we will continue to weather the challenges with the right strategies,” Khor said.
For the first half year ended June 30, 2017 (1HFY17), SP Setia registered secured sales of RM2.07 billion and is said to be on track to achieve its sales target of RM4 billion for the whole year. Revenue and profit before tax for the six months totalled RM1.73 billion and RM358.3 million, respectively.
S P Setia's share price rose 4 sen or 1.19% to close at RM3.40 yesterday, giving it a market capitalisation of RM10.15 billion. — theedgemarkets.com