UEM Sunrise reports revenue of RM1.3bil for FY2023

TheStar Tue, Feb 27, 2024 07:45pm - 1 month View Original


UEM Sunrise chief executive officer Sufian Abdullah

PETALING JAYA: UEM Sunrise Bhd reported a revenue of RM1.3bil for the financial year ended Dec 31, 2023 (FY2023), driven mainly by its developments namely Residensi AVA in Kiara Bay, Residensi Allevia in Mont’Kiara, Serene Heights, and the Southern developments namely Aspira ParkHomes, Senadi Hills and Aspira Gardens, all in Iskandar Puteri.

The company’s gross profit margin improved to 35% in FY2023 (compared to 29% in the corresponding period of 2022), arising from project cost savings from Serene Heights, Solaris Parq and Residensi Astrea in Central and Aspira ParkHomes and Aspira LakeHomes in the Southern region as well as higher margins from land sales recognised in the current year.

In tandem with the outstanding gross profit margin, UEM Sunrise said its operating profit had improved by 11% (compared to FY2022) while profit after tax and non-controlling interests for FY2023 was recorded at RM76mil.

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