PETALING JAYA: Sunway Bhd has returned to the black, with a net profit of RM70.52mil for the second quarter ended June 30, 2021 (Q2’21), compared with a net loss of RM20.38mil in the corresponding quarter last year.

       As a result, it posted an earnings per share (EPS) of 1.20 sen compared with a loss per share of 0.42 sen.

       Sunway has proposed a first interim dividend of one sen per share. During the period in review, its revenue rose 74% to RM967.92mil from RM556.64mil in Q2’20.

       In its statement, Sunway said the overall improvement in the group’s financial performance in the current quarter was mainly due to the business units being able to adjust and adapt their business operational process to continue operating, albeit at a lower capacity, when the movement control order (MCO) was reinstated due to the resurgence of Covid-19 cases.

       “This was unlike the previous corresponding quarter whereby most of the economic activities came to a standstill as businesses were unprepared for MCO 1.0 when it was implemented. However, the hospitality and leisure businesses under the property investment segment continued to be impacted by the consequences of the MCO,” it said.

       For the six months to June 2021 (H1’21), Sunway’s net profit more than doubled to RM128.97mil from RM42.02mil in H1’20, while its EPS rose to 2.20 sen from 0.86 sen. Its revenue increased to RM1.98bil in H1’21 from RM1.53bil in H1’20.