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S P Setia Saw Its 3Q Profit Double To RM100 Million Driven By Local Sales

Business Today ·  Nov 25 23:07

For the nine months ended 30 September 2024, SP Setia reported a Profit Before Tax (PBT) of RM853 million. From the property development segment, the Group has achieved a total revenue of RM4.03 billion and PBT of RM799.8 million in YTD September 2024; significantly higher than the performance last year.

The Group achieved robust total sales of RM3.20 billion with local projects dominating contributing RM3.00 billion, with a substantial 94% of the Group's sales driven primarily by the Southern and Central regions, bringing in RM1.58 billion and RM1.37 billion, respectively.

S P Setia reported its third-quarter revenue of RM1.2 billion higher by RM200 million compared to the same period in the previous year. However, the group's net profit doubled from RM51 million to RM100 million in the current quarter,

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