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KUALA LUMPUR: Sunway Construction Group Bhd
’s net profit for the second quarter ended June 30, 2023, rose to RM33 million compared to RM32.30 million recorded in the same period last year.
Revenue rose to RM604.10 million from RM557.89 million previously.
In a filing with Bursa Malaysia, Sunway Construction said the group’s revenue improved for all segments, but profitability saw a decline in the construction segment.
“Construction segment reported revenue of RM535.6 million and profit before tax of RM39.1 million compared to revenue of RM523.0 million and profit before tax of RM41.1 million in the corresponding quarter of the preceding financial year.
“The higher turnover recorded in the current quarter was due to improved progress for newer projects. However, the profit margin for the corresponding quarter of the preceding financial year was higher due to the finalisation of accounts for completed projects,” it said. – Bernama
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