KUALA LUMPUR: SP SETIA BHD []'s earnings rose 47% to RM251.81 million in the financial year ended Oct 31, 2010 from RM171.23 million in FY09, underpinned by from its property development activities carried out in the Klang Valley, Johor Bahru and Penang.
It said on Thursday, Dec 9 revenue rose 24% to RM1.745 billion from RM1.408 billion a year ago while earnings per share were 24.77 sen versus 16.84 sen.
'The current year profit after taxation was arrived at after expensing approximately RM17 million for employee share options granted pursuant to the company's ESOS which was launched in May 2009.
'Selling and marketing expenses include the cost of financial incentives of RM33 million borne by the Group pursuant to its successful 5/95, Best for the Best and Invest Setiahomes campaigns,' it said.
SP Setia said the group's profit and revenue were principally derived from its property development activities carried out in the Klang Valley, Johor Bahru and Penang.
Ongoing projects which contributed to the group's profit and revenue include Setia Alam and Setia Eco-Park at Shah Alam, Setia Walk at Pusat Bandar Puchong, Setia Sky Residences at Jalan Tun Razak, Bukit Indah, Setia Indah, Setia Tropika and Setia Eco Gardens in Johor Bahru, Setia Pearl Island and Setia Vista in Penang.
For the fourth quarter, earnings rose 32% to RM75.15 million from RM56.86 million, boosted by gain from the disposal of Tesco Hypermarket in Bukit Indah Johor, an investment property of the group.
Revenue rose 42% to RM557.99 million from RM393.61 million while EPS were 7.37 sen compared with 5.59 sen.
It said on Thursday, Dec 9 revenue rose 24% to RM1.745 billion from RM1.408 billion a year ago while earnings per share were 24.77 sen versus 16.84 sen.
'The current year profit after taxation was arrived at after expensing approximately RM17 million for employee share options granted pursuant to the company's ESOS which was launched in May 2009.
'Selling and marketing expenses include the cost of financial incentives of RM33 million borne by the Group pursuant to its successful 5/95, Best for the Best and Invest Setiahomes campaigns,' it said.
SP Setia said the group's profit and revenue were principally derived from its property development activities carried out in the Klang Valley, Johor Bahru and Penang.
Ongoing projects which contributed to the group's profit and revenue include Setia Alam and Setia Eco-Park at Shah Alam, Setia Walk at Pusat Bandar Puchong, Setia Sky Residences at Jalan Tun Razak, Bukit Indah, Setia Indah, Setia Tropika and Setia Eco Gardens in Johor Bahru, Setia Pearl Island and Setia Vista in Penang.
For the fourth quarter, earnings rose 32% to RM75.15 million from RM56.86 million, boosted by gain from the disposal of Tesco Hypermarket in Bukit Indah Johor, an investment property of the group.
Revenue rose 42% to RM557.99 million from RM393.61 million while EPS were 7.37 sen compared with 5.59 sen.
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