Sunrise records higher profit of RM152m

SUNRISE Bhd recorded a pre-tax profit of RM152.1 million for the nine-month period ended March 31, 2009, a four per cent increase from RM145.6 million seen in the previous corresponding period.

Revenue went up 32 per cent to RM566.6 million, from RM427.7 million previously, it said in a statement.

For the third quarter ended March 31, 2009, the company registered a pre-tax profit of RM42.7 million, a 41 per cent increase from RM30.2 million in the previous corresponding quarter.

However, when compared with the preceeding quarter ended Dec 31, 2008, there was a drop of RM23.9 million in profit, due to a one-off gain of RM18.7 million from sale of office units in Plaza Mont'Kiara recognised in the preceeding quarter.

The prevailing economic conditions have not significantly affected the group's financial accounting performance due to its unbilled sales from ongoing commercial and residential developments, namely Solaris Dutamas, Mont'Kitara Meridin, 10 Mont'Kiara and 11 Mont'Kiara, the company said.

It said the 10 Mont'Kiara and 11 Mont'Kiara projects were also recently awarded the Asia Pacific Property Awards 2009 for Best High Rise Architecture in Malaysia and Best High Rise Development in Malaysia respectively.

The Main Board listed company said it is confident of the current financial year, given its substantial locked-in unbilled sales of RM965 million as at March 31, 2009.

By Bernama