SP Setia 1Q net profit up marginally

Posted on | March 28, 2007

By THE EDGE

SP Setia Bhd’s net profit rose marginally to RM46.75 million for its first quarter (1Q) ended Jan 31, 2007 from RM46.35 million a year, with contributions from property development, construction and wood-based manufacturing activities.

Revenue fell 8.57% to RM255.21 million from RM279.12 million. Earnings per share was 6.98 sen against 7.05 sen previously.

In a statement on March 28, SP Setia said it was confident of better group performance this financial year due to continued positive sales performance from its projects in Johor Baru, Johor, and the Klang Valley.

It also expected similar responses to its upcoming launch of Setia Pearl Island in Penang and from two proposed commercial development projects in Selangor – Setia Avenue in Shah Alam and Setia Walk in Pusat Bandar Puchong.

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