UEM Sunrise reports revenue of RM1.3bil for FY23

TheStar Wed, Feb 28, 2024 12:00am - 1 month View Original


PETALING JAYA: UEM Sunrise Bhd has reported revenue of RM1.3bil for its financial year ended Dec 31, 2023 (FY23), driven by its property developments.

Among the projects were Residensi AVA in Kiara Bay, Residensi Allevia in Mont Kiara, Serene Heights in the Klang Valley, and Aspira ParkHomes, Senadi Hills and Aspira Gardens, all in Iskandar Puteri, Johor.

The company’s gross profit margin improved to 35% in FY23 (compared with 29% in 2022), arising from cost savings from Serene Heights, Solaris Parq and Residensi Astrea in the Klang Valley and Aspira ParkHomes and Aspira Lake Homes in Johor as well as higher margins from land sales recognised in the period.

In tandem with the outstanding gross profit margin, UEM Sunrise said its operating profit improved by 11% compared with FY2022, while profit after tax and non-controlling interests for FY23 was recorded at RM76mil.

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