SkyWorld posts RM16.4m 4Q net profit, plans RM2b launches for FY2026

• The company declared a final dividend of 0.6 sen per share, payable on July 15, bringing total dividend for the year to 1.1 sen or RM11 million.

KUALA LUMPUR (May 23): SkyWorld Development Bhd (KL:SKYWLD) reported a 20% drop in net profit to RM16.4 million for the fourth quarter ended March 31, 2025 (4QFY2025), mainly due to lower revenue from two completed projects—EdgeWood Residences and SkyVogue Residences.

These two projects contributed RM43.6 million in revenue for the quarter under review, down from RM133.5 million a year earlier.

The developer's quarterly revenue declined to RM114.4 million in 4QFY2025.

For the full financial year ended March 31, net profit halved to RM54.2 million, while revenue dropped 35.3%, as other major projects like SkySierra (The Valley) SkyAwani IV, and SkyAwani V were completed in FY2024.

Despite lower earnings, SkyWorld remains financially strong, with RM349.6 million in cash and a net gearing ratio of only 0.11.

The company declared a final dividend of 0.6 sen per share, payable on July 15, bringing total dividend for the year to 1.1 sen or RM11 million.

As of March 31, 2025, the group recorded RM450.8 million in property sales from ongoing projects and completed units. It also had RM461.2 million in unbilled sales.

SkyWorld in a statement said it is moving ahead with its RM13 billion affordable housing project in Batu Kawan and Seberang Perai, in partnership with Penang Development Corporation and PDC Properties. It also plans to enter the prefabricated construction sector to support future growth.

With a landbank of 257.7 acres, SkyWorld is targeting project launches worth over RM2 billion for the current financial year and RM4.6 billion by 2026.

CEO Lee Chee Seng said the company remains cautiously optimistic despite economic challenges, supported by strong financial discipline and growth plans.

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