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Wednesday, October 24, 2007

Strong first quarter (Q1) results for Sunrise

By Thomson Financial

KUALA LUMPUR: Sunrise Bhd said yesterday net profit in the first quarter to September surged 260% from a year ago to RM75.17mil as ongoing developments continued to bring in strong sales.

Revenue stood at RM220.62mil, up 114% from a year earlier.

First-quarter net profit was also lifted by proceeds from the sale of retail units and car park lots in Plaza Mont' Kiara in Kuala Lumpur.

“The board is confident of the company's prospects in the coming financial year,” Sunrise said in notes accompanying its results.

Substantial unbilled sales and more new launches would sustain growth, it said.

The group's unbilled sales stood at RM1.3bil at end-September.

It will launch 11 Mont' Kiara, a luxurious condominium development comprising 338 units, and Residence, an exclusive bungalow development, by June next year.

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