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22
Suasana Sentral Loft
DRIVING PERFORMANCE
For the financial year under review, the Group posted revenues of RM214.81 million, representing an increase
of RM49.96 million or 30 per cent compared to RM164.85 million in 2004. The increase in revenue was largely
contributed by the Group’s high-end condominium project, Suasana Sentral Loft, launched in early 2005 and
Seri Austin, a mixed township development in Mount Austin within the Tebrau growth corridor of Johor
Bahru, launched in July 2005.
Despite the positive growth in revenues, the Group’s profit before tax of RM36.86 million was only marginally
higher than that of 2004 financial year at RM35.02 million. Even though gross margins of products rolled out
during the year held up strongly, up front marketing and selling expenses for new projects of Suasana Sentral
Loft and Seri Austin in the face of intense competition has
somewhat moderated the increase in pre-tax profits. Further,
new set-ups in operating units of these developments
contributed to a rise in personnel expenses and related
overheads.
On the other hand, net profits of RM29.21 million achieved in
financial year 2005 was 42 per cent or RM8.64 million above
the RM20.57 million recorded in 2004. The boost at net profits
was attributed to lower taxes as a result of tax write-backs in
a subsidiary company. The higher net profits of the Group has
in turn led to an enhancement in earnings per share from
8.8 sen in 2004 to 12.6 sen in 2005, a healthy increase of over
43 per cent.