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Friday, November 28, 2008

Sunrise profit at RM43mil

KUALA LUMPUR: Sunrise Bhd announced yesterday a pre-tax profit of RM42.79mil for its first quarter ended Sept 30, down from RM85.59mil in the previous corresponding period.

Pre-tax profit for the quarter was lower as the previous period had included total gains of RM52.1mil arising from the sale of commercial units and carpark lots in Plaza MontKiara to Quill Capita Trust, as well as a piece of land, Sunrise said in a statement.

Excluding these one-off gains, the group’s underlying pre-tax profit for the quarter would have chalked up a 28% year-on-year growth, it said.

Its revenue, however, increased to RM198.21mil from RM130.62mil previously.

Main contributors to the group’s financial performance for the quarter were its ongoing commercial and residential developments, namely Solaris Dutamas, Mont’Kiara Meridin, 10 Mont’Kiara and 11 Mont’Kiara.

The group chalked up property sales of RM216mil during the quarter.

By Bernama

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