SD Property's first-half earnings surge 84pct to RM480.8mil, targets 40-60pct dividend payout
KUALA LUMPUR: Sime Darby Property Bhd’s net profit surged 84 per cent year-on-year to RM480.8 million for the six months ended June 30, 2026 (1H FY26).
Sime Darby Property Bhd reported an impressive 84% increase in net profit for the first half of its fiscal year, reaching RM480.8 million. Revenue also saw a modest 1.6% rise, totaling RM1.96 billion. The property development segment remains the primary earnings driver, contributing RM1.8 billion to the group's revenue. This segment saw growth due to stronger industrial and high-rise construction progress across multiple projects in Bandar Bukit Raja, Elmina Business Park, City of Elmina, Serenia City, and KLGCC Resort.
The investment and asset management segment also performed well, with revenue increasing to RM137.8 million and pre-tax profit reaching RM179.2 million. Group managing director and CEO Datuk Seri Azmir Merican highlighted the resilience of the diversified portfolio, with industrial developments driving growth and the expanding investment and asset management segment reinforcing the foundations of the company's SHIFT32 strategy.
The group aims to pay a dividend of 40-60% of net profit, excluding extraordinary items, with a Q2 dividend of 1.7 sen per share, marking a 13% year-on-year increase. SD Property plans to launch projects with an estimated RM4.7 billion gross development value during the second half of the fiscal year.
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