Sunway posts higher net profit of RM658 mil for FY18

KUALA LUMPUR: Sunway’s net profit for the financial year ended Dec 31, 2018 (FY18), increased to RM658.99 million from RM620.59 million posted in 2017.

Revenue rose to RM5.41 billion against RM5.23 billion previously, contributed by most business segments, including property investment and construction, except property development, according to its filing with Bursa Malaysia today.

In a separate statement, Sunway declared a second interim cash dividend of 2.0 sen per share and a share dividend distribution of one treasury share for every 100 existing ordinary shares held.

Based on the market price of Sunway’s share of RM1.62 as at today’s close, the share dividend distribution was equivalent to about 1.62 sen per share.

Total full year dividend, including the first interim cash dividend paid of 3.5 sen per share, was about 7.12 sen per share, up from 6.0 sen per share in 2017.

“We look forward to another good year ahead, supported by the resilience of our businesses.

“Barring any unforeseen circumstances, we will continue to perform satisfactorily in 2019,” said chief financial officer Chong Chang Choong.