KUALA LUMPUR: Sime Darby Property Bhd
posted a higher net profit of RM158.78 million in the first quarter of its financial year ended March 31, 2026 (1Q 2026), compared to RM118.41 million in 1Q 2025.
The property developer stated in a Bursa Malaysia filing today that the improvement in performance was mainly attributable to a fair value gain of RM65.1 million recognised upon the completion of a built-to-lease data centre, stronger contributions from the investment and asset management segment, coupled with a lower share of losses from joint ventures.
However, revenue dropped to RM799.18 million from RM871.62 million in the same period last year, driven by lower contributions from the property development and leisure segments.
On prospect, the company said it will remain cautiously optimistic on its outlook for the year, with sustained demand for residential, industrial and selected commercial segments continuing to support planned launches across its portfolio.
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