Gamuda's 3Q net profit marginally higher at RM223.37 mil
22 Jun 2023 11:24pm
Group revenue surged 60 per cent to RM2.07 billion from RM1.14 billion previously, as overseas revenue tripled. PIX from Awani
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Group revenue surged 60 per cent to RM2.07 billion from RM1.14 billion previously, as overseas revenue tripled.
In a filing with Bursa Malaysia today, Gamuda said the stronger overseas construction earnings replaced highway earnings following the divestment of its toll highway operations.
The engineering, property and infrastructure company also declared an interim dividend of six sen per for the financial year ending July 31, 2023.
For the cumulative nine-month period, Gamuda’s net profit soared to RM1.59 billion from RM550.98 million a year ago, while revenue rose to RM4.82 billion compared to RM3.05 billion previously.
On prospects, Gamuda said the group anticipates its performance in 2023 to be driven by overseas construction activities as projects in Australia and Taiwan continue to pick up pace and property sales following the divestment of toll highway operations in the first quarter of 2023.
"Moving forward, the resilience of the group is underpinned by a large construction orderbook of RM20 billion (including AUD2 billion orderbook boost from the acquisition of Downer Transport Projects in Australia) and unbilled property sales of RM5.7 billion.
"On top of that, the group has a healthy balance sheet with almost zero net gearing,” it said. - Bernama
