KUALA LUMPUR: Sunway Construction Group Bhd
(SunCon) is optimistic of registering positive growth in the current financial year ending Dec 31, 2024 (FY24), supported by its strong outstanding order book of RM7.4bil as of June 30.
“The strong flow of new contracts in the first half of the year (1H) has been encouraging. The group exceeded its initial order book replenishment target of RM2.5bil to RM3bil, after securing RM3.5bil worth of new orders up to August 2024.
“We are pleased to announce a higher order book replenishment target of RM4bil to RM5bil for 2024,” group managing director Liew Kok Wing said in a statement.
He said the prospects for the domestic construction sector remain promising.
“In the Advanced Technology Facilities segment, SunCon is building five data centres projects for four multinational clients while actively pursuing more data centre opportunities, logistic warehouse facilities, and semiconductor manufacturing facilities locally and in the Asean region.”
“On the domestic front, the group is looking forward to pursuing opportunities in public sector projects, such as the Penang Light Rail Transit project and Penang International Airport expansion project,” Liew said.
The construction group posted a 17.8% higher net profit of RM39mil in the second quarter compared with RM33mil in the year-ago quarter.
Revenue for the quarter rose 7.8% to RM651.2mil from RM604mil last year while earnings per share climbed to 3.01 sen versus 2.56 sen previously.
In the first six months, SunCon posted a net profit of RM71.3mil, up 17.2% from RM60.8mil last year while revenue expanded 11.5% to RM1.26bil against RM1.13bil a year prior.
The group declared a first interim single-tier dividend of 3.50 sen per ordinary share for FY24. The current year’s first interim dividend is higher than the 3.0 sen declared and paid in the same period last year.
