SkyWorld rides on RM483mil unbilled sales for FY26

KUALA LUMPUR: SkyWorld Development Bhd’s unbilled sales of RM483.1mil as at June 30, 2025, are expected to support the group’s performance, alongside progressive revenue recognition from ongoing projects and sales of completed inventories.

The property developer plans to launch new projects in the current financial year ending March 31, 2026 (FY26), with a gross development value (GDV) of more than RM2bil, mainly in Kuala Lumpur and Penang.

“We are optimistic these launches will support a commendable sales performance for the current financial year and keep us firmly positioned to achieve our RM4.6bil target of project launches by the end of calendar year 2026,” chief executive officer Lee Chee Seng said in a statement.

In the first quarter ended June 30, SkyWorld’s net profit tumbled 71.5% to RM2.8mil, or 0.29 sen per share, while revenue declined 24.5% to RM74.6mil.

As of June 30, the group’s financial position remained healthy with gross gearing at 0.57 times, net gearing at 0.12 times, and cash exceeding RM300mil.

“Despite challenges and uncertainties in both local and global economic outlook, the board is cautiously optimistic that the financial and operational performances of the group remain satisfactory in FY26.”