Mudajaya 3Q profit falls 28% yoy to RM40m

by **Cals** Wed 27 Nov 2013, 21:58

Business & Markets 2013

Written by Jeffrey Tan of theedgemalaysia.com

Wednesday, 27 November 2013 18:23

KUALA LUMPUR (Nov 27): Mudajaya Group Bhd’s net profit fell 28% year-on-year (y-o-y) to RM40 million in the third quarter ended Sept 30, 2013.

But revenue rose 11% y-o-y to RM391 million.

In a filing to the stock exchange, the mainly property diversified entity said for the nine-month period, profit chalked up to RM128 million from RM190 million, while revenue generated was RM1.201 billion versus RM1.352 billion in the previous corresponding period.

Mudajaya declared a third interim single tier dividend of 3 sen (15%) per share of 20 sen each in the financial year ending Dec 31, 2013.

Mudajaya said the lower nine-month period profit was achieved although most of its segments posted higher profits, namely manufacturing, trading and property development segments.

But its construction segment declined in profit.

“Going forward, the group is well-placed to benefit from some of the proposed projects which were further announced in the recent Budget in October this year,” said Mudajaya.

“The construction sector in Malaysia looks promising in the coming years as there will be many mega-infrastructure projects to be launched by the government and the private sector.”