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Thursday, December 16, 2010

S P Setia targets RM3 billion sales in 2011

S P Setia will be launching an integrated green commercial development called KL Eco City

S P Setia Berhad recently announced that it targets to achieve RM3 billion sales in FY2011. This is on the back of its new sales record of RM2.31 billion for FY2010 ending 31 October which represented a 40% increase from its previous FY2009 record of RM1.65 billion.

FY2010 is the third consecutive year of increase in the Group's new sales, and the seventh consecutive year since FY2004 that total Group sales have exceeded the RM1 billion mark.

The Group achieved a net profit of RM251.8 million on the back of revenue totalling RM1.7 billion in FY2010, representing an increase of 47% and 24% respectively over the results for the preceding year.

President and chief executive officer Tan Sri Liew Kee Sin said the sales numbers are a testament of the Group's strong branding and product desirability in all its developments and across market segments.

"For FY2011, we expect all our existing projects in the Klang Valley, Johor Bahru and Penang to continue to do well. In addition, we will shortly be launching KL Eco City, our exciting new integrated green commercial development opposite Mid Valley City which should also contribute strongly towards the targeted RM3 billion new sales."

By The Star

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