KUALA LUMPUR: Sunway Bhd's pre-tax profit for the financial year ended Dec 31, 2016 declined to RM859.02 million from RM930.36 million registered in 2015.
In a statement today, the group said performance was affected by lower fair value gains from the revaluation of investment properties and a share of lower fair value gains recorded by Sunway REIT.
However, revenue rose to RM4.72 billion from RM4.45 billion previously driven by better performance in the property development, property investment, trading and manufacturing, healthcare, building materials and treasury operations.
Meanwhile, Sunway said it planned to roll out RM2.0 billion worth of properties in 2017.
"The launches for the year are well-spread across multiple strategic locations with good connectivity, and diversified across the residential, commercial and industrial segments," the group said.
The property development segment's unbilled sales, as at Dec 31, 2016, stood at RM1.5 billion and would provide earnings visibility for the division over the next one to two years.
The construction segment's outstanding order book remained healthy at RM4.8 billion. -- BERNAMA