Sinarmas Land profit down 5.5% to $154m in H2

Revenue for the period also fell 2.9%.

Sinarmas Land posted a 5.5% drop in net profit to S$154m for the half-year ended 31 December 2024, from $163m a year earlier.

Revenue for the period fell 2.9% to $721.7m, whilst cost of sales rose 6.5 per cent and operating expenses jumped 24.2%.

Full-year net profit fell 10.8% to $243.1m, even as revenue rose 10.9% to $1.5b. This was due to a 97.7% surge in profit attributable to non-controlling interests, which hit $222.3m.

The rise in revenue was driven by higher sales of industrial and commercial land in BSD City and Kota Deltamas as well as stronger residential and shophouse sales.

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