KUALA LUMPUR (Aug 27): Sunway Bhd achieved 24% growth in net profit at RM246.49 million for the second quarter ended June 30 against RM199.46 million in the previous corresponding quarter.

The group announced an interim cash dividend of three sen per share along with a share dividend distribution of one treasury share for every 100 ordinary shares held.

Its quarterly revenue fell 15% to RM1.08 billion from RM1.26 billion a year earlier, which was attributed to lower contributions from most business segments except property development and healthcare.

Profit contribution from the property investment, healthcare and other segments had supported top line growth, said Sunway.

The property investment segment saw higher pre-tax profit amid higher contribution from Sunway Velocity Mall and disposal gain on Sunway University assets.

The healthcare segment reported higher profit contribution due to higher occupancy from increased number of new beds and more outpatient treatments.

Meanwhile, the group said its property development segment posted lower pre-tax profit year-on-year, as the segment had recorded foreign exchange gains in the previous year’s corresponding quarter.

The construction segment also saw a drop in contribution due to lower progress billings from local construction projects and higher intra-group eliminations.

The trading and manufacturing segment and the quarry segment had also posted lower profits year-on-year.

For the first half of the financial year, net profit increased 20% to RM382.9 million from RM319.35 million in the same period last year, while revenue fell 13% to RM2.2 billion from RM2.54 billion.

Going forward, the group said it will continue with its prudent business strategy, adding that it is poised to capitalise on any opportunities which may arise.

“Barring any unforeseen circumstances, the group will continue to perform well for the second half of this year,” said the group.

Sunway fell 5 sen or 3.09% to RM1.57, translating to a market capitalisation of RM7.75 billion.