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SP Setia records RM1.11b sales in 1H16 SP Setia records RM1.11b sales in 1H16
Share this on WhatsAppBY Roznah Abdul Jabbar SP Setia Bhd secured a sales record of RM1.11 billion for the first half of financial year... SP Setia records RM1.11b sales in 1H16
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BY Roznah Abdul Jabbar

SP Setia Bhd secured a sales record of RM1.11 billion for the first half of financial year 2016, the group announced.

The group said that the sales secured are largely from Central region with RM856 million, Southern, Northern and Eastern region combined with RM140 million and International region with RM109 million. On the local front, the sales secured in Klang Valley are mainly in line with the Group’s sales target as compared to a weaker sentiment in Johor, Penang and Sabah.

Revenue and PBT for the first half of FY2016 were RM1.9 billion and RM397 million respectively.

President and chief executive officer Khor Chap Jen said that ongoing projects contributed to the revenue and profit for the group.

He said that it is noteworthy to mention that amidst the current challenging market, SP Setia’s sales performed satisfactorily with good take up rate for its projects.

“This indicates that the underlying demand for quality properties in strategic locations with good infrastructure, secure and self-sustained townships is still there,” he said.

Khor added that the group is confident that the strategic list of launches lined up for the second half of the year, which ranges from affordable housing to exclusive niche developments will have good responses, keeping up with the momentum from the take up rate of recent launches.

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