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KUALA LUMPUR: Property developer Sunsuria Bhd’s net profit rose 16.6% to RM4.16mil in the third quarter ended June 30 (3Q) from RM3.57mil a year ago.

Its revenue almost doubled to RM122.5mil as compared to RM62.2mil recorded in the corresponding quarter in the previous year. Its earnings per share rose to 0.46 sen against 0.40 sen a year ago.

For the first none months to June 30 (9M22), its net profit stood at RM14.48mil, up 3.3% from RM14.01mil while revenue grew 75% to RM302.33mil, from RM173.10mil.

Executive chairman Tan Sri Datuk Ter Leong Yap said the group’s unbilled sales of RM889.3mil as at June 30 will contribute positively to its earnings in the coming financial years.

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“As the Malaysian economy recovers on the back of normalising economic activities and reopened international borders, we are seeing a gradual increase in consumer confidence, especially in the residential property sector due to pent-up demand.

“Looking ahead, we remain cognisant of the challenges such as rising interest rates, growing inflation and escalation of building material prices which may impact operating costs. We will strive towards mitigating these risks by implementing effective supply chain management and value engineering to optimise the cost structure of our developments,” Ter said in a statement.

So far in 9M22, Sunsuria has acquired two land parcels in Ijok and Banting, Selangor totalling 183.8 acres for RM127.8mil.

This brings the developer’s total undeveloped landbank, all of which are located in Selangor and KL to 395 acres.