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Property News

SkyWorld records revenue of RM210.8m for first quarter

As of June 30, the developer has unbilled sales of RM951.9 million.
KUALA LUMPUR, Aug 29 – SkyWorld Development Bhd has posted revenue of RM210.8 million and profit before tax of RM59.2 million in its first quarter for the financial year ending March 31, 2024 (1Q2024).
From this, a net profit of RM42 million, equivalent to 7.32 sen per share, was derived, SkyWorld said in a statement announcing its unaudited quarterly performance yesterday (Aug 28).  
There are no comparative year-on-year figures as the urban property developer was only listed on the main market of Bursa Malaysia on July 10.
The 1Q2024 gains mainly came from the progressive revenue recognition from its on-going high-rise projects, namely SkySierra Residences (The Valley), SkyAwani IV Residences, SkyAwani V Residences, EdgeWood Residences, SkyVogue Residences, Curvo Residences, as well as from the sales of completed inventories, mainly from SkyMeridien Residences and Bennington Residences.
As of June 30, the developer has unbilled sales of RM951.9 million. Next year, it is planning to launch new projects totalling more than RM1 billion gross development value in the Klang Valley, said SkyWorld founder and non-independent executive chairman Datuk Seri Ng Thien Phing in the statement.
“Moving forward, we remain committed to adaptability and resilience, traits that have guided us through the tests of time, and customer satisfaction, as we continue to focus on our ongoing and future developments.
“We remain dedicated to providing homes rooted in innovations and excellent qualities. Ultimately, as we continue to grow our business, enhancing shareholder value remains at the forefront of SkyWorld,” he added.

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Source: EdgeProp.my

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