Gadang records RM17.91m pre-tax profit (9261)

KUALA LUMPUR: Gadang Holdings Bhd reported a pre-tax

profit of RM17.91 million for financial year ended May 31, 2012
compared to a pre-tax loss of RM1.20 million in the same period of
2011.



Its revenue eased to RM246.35 million from RM350.49 million previously.



In a filing to Bursa Malaysia today, Gadang said the higher
contributions from the construction and property divisions helped it
record a pre-tax profit.


"The decline in revenue was mainly due to the completion of major
contracts and the longer tendering period for new projects secured by
the construction division," it said.






Gadang said it would rationalise and dispose of low-income yielding
assets to consolidate its working capital for major projects it
currently secured and tendered.


It said the construction division's performance was expected to
further improve with the boost of its order book and the encouraging
replenishment prospects.


Gadang expected to achieve a better performance for next financial
year supported by the satisfactory performance of its property division
as well as steady earnings from water division. -- BERNAMA

26 Jul 2012

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