Sunway 3Q Net Profit Doubles To RM376.08 Mln

KUALA LUMPUR, Nov 26 (Bernama) -- Sunway Bhd’s net profit doubled to RM376.08 million in the third quarter ended Sept 30, 2024 (3Q 2024), from RM180.30 million in the same quarter last year mainly due to stronger operating performance across most business segments.

Revenue surged by 31.8 per cent to RM2.03 billion from RM1.54 billion previously, the property developer said in a filing with Bursa Malaysia.

Revenue for property developments rose to RM495.68 million in the reviewed quarter, against RM309.54 million a year ago, property investments increased to RM271.73 million from RM232.81 million, while the construction widened to RM610.71 million versus RM424.01 million.

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The healthcare segment’s net profit improved to RM63.03 million in 3Q 2024 from RM44.45 million previously driven by better revenue performance from its three operating hospitals, Sunway Medical Centre (SMC) Sunway City, SMC Velocity and SMC Penang.

 In a separate statement, president Tan Sri Chew Chee Kin said the healthcare segment continues to consistently deliver solid performance as the business expands through its greenfield and brownfield developments and organically to serve the growing demand for quality healthcare services.

“The private healthcare sector is poised for sustained growth on the back of an increasing ageing population, non-communicable diseases and medical tourism.

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“The group’s healthcare segment is well-positioned to ride on the growth momentum and is preparing for a proposed initial public offering of Sunway Healthcare Group,” he added.

-- BERNAMA