Sime Darby Property Bhd aims for more balanced sales contribution from its industrial and residential segments, said Group Managing Director (MD) Datuk Seri Azmir Merican at an online press conference today as reported by the national news agency, Bernama.

He added that Sime Darby has made adjustment to ensure a more equitable distribution between the group's industrial and high-rise projects, calling the balanced arrangement "ideal" amid market changes and evolving demand.

In a Bursa filing yesterday, Sime Darby announced the group's highest ever nine-month sales revenue of RM3.2 billion which has reached 91% of the projected 2024 target, representing a 25% growth YoY.

The group's industrial segment accounted for 32% of the overall sales revenue which amounted to approximately RM1 billion while the residential high-rise segment contributed 30% to the total revenue, considered "balanced" by the management.

The MD expressed optimism over the company's financial performance despite a decline in the quarterly net profit for the third quarter of 2024, dropping nearly 11.5% YoY to RM128.25 million from RM144.91 million.

"Performance for Q3 is never a concern for us, as we have a clear plan in place," said the MD, adding that "We prefer to assess our performance on an annual basis. Therefore, it's best to look at the full-year performance."