Sunrise’s pre-tax profit for quarter up 17% y-o-y to RM50.2 mil

KUALA LUMPUR: Property developer Sunrise Bhd reported an increase of 17% y-o-y in pre-tax profit for the quarter ended Sept 30, 2009, amounting to RM50.2 million (FYE June 2010). According to a statement released on Nov 2, net profit for the quarter increased 24% y-o-y to RM37.3 million on the back of turnover totalling RM190.3 million.

Earnings per share for the quarter was 7.52 sen, an increase from 6.37 sen a year earlier. Shareholders of Sunrise Bhd approved the first and final dividend of three sen per share for FY 2009 during the annual general meeting on Oct 29, 2009 and will be paid on Dec 10, 2009.

The developer, known for its luxury condominium developments in Mont’Kiara, has substantial unbilled sales of RM870 million as at Sept 30, 2009, which will sustain earnings in the current and following financial year. Its earnings continue to be sustained by progress billings for its ongoing developments including 10 Mont’Kiara, 11 Mont’Kiara and Solaris Dutamas, as well as sales of 11 Mont’Kiara and the completed Mont’Kiara Residence bungalows.

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