Gamuda Q1 earnings up 25%

December 15, 2017 | By | Reply More

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PETALING JAYA: Gamuda Bhd’s net profit grew 25% to RM203 million in the first quarter ended Oct 31, 2017 from RM162 million in the previous corresponding quarter due to higher work progress from the group’s various construction projects coupled with stronger overseas property sales and several new property projects in Malaysia.

Revenue for the quarter jumped 53% to RM771.8 million against RM504.9 million previously.

The group said it anticipates a better performance this year as the KVMRT Line 2’s progress picks up pace, contributions from stronger property sales both overseas and in Malaysia, and steady earnings contribution from the expressway division.

Gamuda’s share price closed unchanged at RM4.75 on Friday with 4.4 million shares traded.

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