Summary:
- UEM Sunrise Bhd reported a 126% increase in first-half property sales to RM1.47 billion, driven by its built-to-rent development in Collingwood, Australia, and stronger project contributions in southern and central Malaysia, surpassing its full-year sales target of RM1.3 billion by 13%.
- First-half revenue rose 10.9% to RM953.42 million, with net profit increasing 47% to RM63.05 million, supported by higher progress billings, improved margins, and a 36.9% revenue jump in Q2 aided by divestment of non-strategic land in Iskandar Puteri and increased joint venture contributions.
- Unbilled sales stood at RM2.9 billion as of June 30, 2026, expected to be recognised over 48 months, providing clear revenue visibility; management maintained a conservative full-year sales target despite exceeding it, reflecting cautious guidance amid strong growth from Australian and Malaysian markets.
Original article:
https://finance.biggo.com/news/c5c7a2bd-a714-4c14-a383-25468ab66fb4
