KUALA LUMPUR (Feb 20): Sunway Construction Group Bhd (KL:SUNCON) declared a 2.5 sen third interim dividend per share following its fourth quarter net profits of RM69.17 million, making the total dividends declared for the financial year ended Dec 31, 2024 (FY2024) at 8.5 sen per share.

It is the group’s highest dividend payout since its listing 15 years ago.

The record dividend payout declared for FY2024 comes on the back of record earnings for the group during the year of RM186.91 million. The full-year net profits was 28.8% higher than in FY2023 when SunCon recorded RM145.11 million bottomline.

“The stellar performance was underpinned by the acceleration in the RTS Link project, several data centre projects as well as the in-house Sunway Square development,” the construction group said in a statement on Thursday.  

The net profit recorded in the fourth quarter ended Dec 31, 2024 (4QFY2024) was 40.4% higher than the corresponding quarter’s RM49.27 million, as the group’s revenue expanded 60.7% to RM1.4 billion versus RM871.5 million previously.

Orderbook replenishment in FY2024 stood at RM4.2 billion — within the group’s target range of RM4 billion to RM5 billion. It has fixed a target range of RM4.5 billion to RM6 billion for FY2025.

Speaking on the group’s prospects in FY2025, SunCon’s group managing director Liew Kok Wing said the group’s tender pipeline in the advanced technology facilities domain remains strong which, coupled with expected acceleration in existing projects’ progress, provides earnings visibility for the year ahead.

“In addition, the group is positive about government-led initiatives outlined in Budget 2025, namely the Penang Light Rail Transit and Penang International Airport Expansion,” he added.

Overall, SunCon’s orderbook stood at RM5.8 billion as at end-December 2024.

Shares in SunCon ended three sen or 0.73% higher at RM4.12, valuing the group at RM5.33 billion.