KUALA LUMPUR (Feb 17): Sunsuria Bhd saw its net profit for the third financial quarter ended Dec 31, 2014 (3QFY15) surged 134.6% to RM1.17 million or 0.74 sen a share from RM500,000 or 0.38 sen a share a year ago, mainly contributed by its property development segment.

It said the profit contribution came from Trivo, a commercial shop offices project, and Suria Residence, a serviced apartments project, both located in Suria Jelutong, Shah Alam, Selangor.

Revenue for 3QFY15 jumped 360.9% to RM23.16 million from RM5.02 million.

Sunsuria (fundamental: 2.05; valuation: 1.2) did not declare any dividend for the quarter under review.

For the nine months period (9MFY15), Sunsuria's net profit grew 138.5% to RM2.98 million from RM1.25 million in 9MFY14, while revenue grew 271.9% to RM56.03 million from RM15.07 million a year ago.

Earnings per share was higher at 1.88 sen compared with 0.96 sen in 9MFY14.

In a filing with Bursa Malaysia today, Sunsuria attributed the better performance for 9MFY15 to the contribution from the property development segment.

Going forward, Sunsuria said the property development business will remain as the group's key growth driver and is expected to contribute higher revenue and profit for its current financial year performance, thus outperforming the financial performance of previous year.

As of midday break, Sunsuria shares closed unchanged at RM1.52, giving it a market capitalisation of RM240.71 million.

(Notes: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)