Sime Darby Property's 2Q Net Profit Rises To RM322.03 Mln
KUALA LUMPUR, Aug 24 (Bernama) -- Sime Darby Property Bhd’s net profit rose to RM322.03 million in the second quarter ended June 30, 2026 (2Q 2026) compared to RM143.54 million in the same quarter a year ago.
In a Bursa Malaysia filing today, Sime Darby Property said Sime Darby Property said the higher net profit was mainly driven by stronger underlying performance from the property development and investment and asset management segment, supported by fair value gains on investment properties recognised upon the completion of assets as well as improved share of results from joint ventures.
The company said revenue also strengthened to RM1.16 billion from RM1.06 billion previously, driven by the investment and asset management segment and improved property development segment revenue, partially offset by lower contributions from the golf and sports segments.
“The property development segment revenue remained resilient at RM1.78 billion, with segment profit increased by 21.3 per cent to RM457.2 million, driven by resilient underlying performance across key townships, including Bandar Bukit Raja, Elmina Business Park, City of Elmina, Serenia City and KLGCC Resort.
“Meanwhile, revenue from the investment and asset management segment increased to RM137.8 million while the golf and sports segment recorded revenue of RM42.4 million,” it said.
For the first six months of 2026 (1H 2026), Sime Darby Property’s net profit jumped to RM480.82 million from RM261.95 million while revenue increased to RM1.95 billion from RM1.93 billion previously.
On prospects, it said the group sustained its sales momentum, recording 1H 2026 sales of RM1.8 billion, supported by bookings of RM1 billion (as at Aug 9, 2026) and unbilled sales of RM3.8 billion, providing continued earnings and cash flow visibility beyond the next three years.
“The group remains positive on the outlook for the remainder of the year, supported by sustained demand across its townships and a diversified launch pipeline.
“In 2H 2026, the group will continue to launch a range of products to capture market demand, particularly in the residential, industrial and commercial segments,” it said.
In addition, Sime Darby Property said that barring unforeseen circumstances, the group remains on track to deliver its 2026 sales target of RM4 billion and planned launches of RM4.7 billion.
Group managing director and chief executive officer Datuk Seri Azmir Merican said demand across its core townships and industrial developments remains robust, supported by a healthy launch pipeline, strong unbilled sales, and a growing recurring-income portfolio.
“The dividend policy announcement reflects our confidence in the group’s ability to generate sustainable earnings and operating cash flows, particularly as recurring income becomes a larger contributor to overall profitability under the SHIFT32 (strategic plan),” he said.
Sime Darby Property declared a dividend of 1.7 sen per share for 2Q 2026, representing a 13 per cent year-on-year increase with a total payout of RM115.6 million.
-- BERNAMA