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MARKET • 19/08/2026 06:41 PM

S P Setia Second Quarter Net Profit Eases To RM98.05 Mln

KUALA LUMPUR, Aug 19 (Bernama) -- S P Setia Bhd posted a lower net profit of RM98.05 million in the second quarter ended June 30, 2026, compared with RM99.80 million in the same quarter a year ago.

Its revenue fell to RM821.38 million from RM943.73 million in the same quarter a year ago, driven primarily by domestic development projects.

For the first half of the financial year, the real estate and property development company’s net profit eased to  RM129.18 million from RM166.82 million a year ago.

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Revenue for the six months declined to RM1.64 billion from RM1.71 billion previously.

The company said the performance reflected continued sales activity amid a more challenging operating environment, with lower contribution from land sale transactions. 

Its president and chief executive officer Datuk Zaini Yusoff said the company’s second quarter results reflected the group’s continued resilience, supported by steady sales performance, lower borrowings and disciplined management of costs and cash flow.

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“While the operating environment remains dynamic, our diversified portfolio, strategic landbank and focus on catalytic townships and eco-industrial parks provide a solid foundation for long-term growth. We will continue to execute with discipline as we advance key developments in Penang and Vietnam, while strengthening Setia’s position as a leading property developer in Malaysia and the region,” he said in a statement.

Moving forward, S P Setia said that with a diversified portfolio spanning established townships, eco-industrial parks and international developments, the company remains focused on disciplined execution, value creation and the delivery of sustainable long-term growth.

“This reflects Setia’s strategic evolution from a traditional development-led business towards a more balanced and integrated real estate platform, strengthening earnings quality, enhancing resilience across market cycles and creating sustainable long-term value for shareholders,” it added.

-- BERNAMA

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