United States

Analyst Research Report Snapshot


Results Note - Sunway Bhd (BUY, maintain) - Strong results, within expectations




Affin Hwang Investment Bank Bhd


29 Aug 2013





Companies referenced:


Available for Immediate Download

1H13 core net profit of RM201m (+42% yoy), within expectations Sunway reported a strong 1H13 core net profit of RM201.1m (+41.7%) on stronger earnings from the property development and construction divisions. The property development business reported a stronger 1H13 EBIT of RM69.9m (+52.2% yoy) and higher PBT of RM126.7m (+59.8% yoy) driven by stronger sales achieved and higher progress billings of its Sunway South Quay, Sunway Damansara, Sunway Velocity and Singapore projects. 1H13 construction EBIT grew by 72% yoy to RM43m on stronger progress billings of the local infrastructure and building works as well as stronger sales of precast products. All in, the result is within consensus and our expectations. Sunway’s 1H13 core net profit accounts for 52% of consensus and our full year earnings forecast. A pleasant surprise from the results announcement is the declaration of a 5 sen interim dividend (vs nil in 1H12).

Why buy analyst research?

  • Institutional quality research
  • Available for Immediate Download
  • Detailed company or industry insight
  • Print or save
  • 24 hour customer support
Return to previous page without adding this item to your cart.
Email Customer Support.

About Analyst Research

Analyst research reports are available for immediate download after purchase. You will have unlimited access to the report for 24 hours after purchase, to download, print or save it as many times as you wish. Analyst Research provided by Reuters does not constitute investment advice, and is not endorsed by Reuters Research. This information is protected by copyright and intellectual property laws. More information on Analyst Research.