SP Setia（SPSB.MK）Land sales to outshine Battersea fears

ab 15 August 2024 Global Research and Evidence Lab SP Setia Land sales to outshine Battersea fears Q: How did the results compare with expectations? We think the latest results missed expectations. Key highlights include higher losses at its UK JV, slower residential sales and fairly muted guidance on potential land sales ahead. In H124, lumpy land sales recognition drove the significant +234% YoY increase in PAT to RM404m, though core profit (excluding land sales, Battersea losses) only formed 44% of our e ...