Gamuda profit up 149%

Malaysia 30 Jun 2014
Gamuda profit up 149%

Gamuda Bhd’s net profit for its third quarter ended April 30, 2014 surged 149% to RM177.92mil from RM71.39mil in the previous corresponding period due to higher contributions from its property, as well as water and expressway concessions divisions.

For its construction division, Gamuda said the year-to-date (YTD) increase in pre-tax profit resulted from higher work progress from the Klang Valley Mass Rapid Transit project.

Revenue, meanwhile, slipped 1.1% to RM633.83mil from RM641.06mil a year earlier, mainly as a result of the substantial completion of the electrified double-tracking railway project.

In its filing with Bursa Malaysia yesterday, the company said net profit for the nine-month period increased to RM513.51mil from RM373.72mil previously, while revenue rose to RM1.64bil from RM1.59bil in the previous corresponding period.

 

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