♦ Within expectations. SP Setia’s 3QFY10 core net profit of RM58.1m
(+36% yoy; +13% qoq) came in within our expectation and market
consensus. Headline net profit of RM87.3m was skewed by a one-off gain
of about RM40m arising from the disposal of the Tesco Hypermarket in
Setia Alam – an investment property of SP Setia. Turnover upped slightly
by 1.4% from 2QFY10, continued to be underpinned by the progress
billings from various projects in Klang Valley, Penang and Johor.
SP Setia Berhad : Skewed By One-off Gain - 24/09/2010
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