Gamuda 2Q profit rises 15% yoy to RM156.9m

Gamuda 2Q profit rises 15% yoy to RM156.9m
Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Thursday, 28 March 2013 19:06


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KUALA LUMPUR (March 28): GAMUDA BHD [] posted a net profit of RM156.89 million for the second quarter to end-January 2013, a 15% rise over RM136.47 million registered in previous corresponding quarter.

Revenue also rose to RM875.22 million for the quarter, up from RM769.33 million in the second quarter of previous financial year.

The increase in profit for the current quarter was due to higher contributions from all divisions, the company said in its filings to Bursa Malaysia.

In the CONSTRUCTION [] division, there was higher work progress from the Klang Valley Mass Rapid Transit Project and in its property division, there were higher profits from projects in Malaysia especially Horizon Hills.

There was also higher contribution in profit from the group’s various expressways.

“The group expects to perform better this year supported by on-going construction projects, strong unbilled sales of the property division and steady earnings from the water and expressway concessions division,” the company said.