PETALNG JAYA: Gamuda Bhd’s net profit for its third quarter ended April 30, 2021 leaped 3.5 times to RM141.8 million from RM40.2 million in the same quarter of the previous year, as the pace of construction and property projects and traffic on the expressways were returning to pre-movement restrictions level.
Revenue for the quarter rose 76.61% to RM971.1 million from RM549.9 million previously.
For the financial year ended April 30, Gamuda’s net profit declined 3.8% to RM374.2 million from RM389 million in the corresponding quarter of the previous financial year, while revenue decreased 3.87% to RM2.63 billion from RM2.74 billion previously.
The group said it anticipated that this year’s performance will be driven by overseas property sales, especially in Vietnam and Singapore; the continued progress of MRT Putrajaya Line gearing completion (formerly called MRT Sungai Buloh-Serdang-Putrajaya Line); and its construction order book of RM4.9 billion and unbilled property sales totalling RM4 billion, which will see it through the next two years. The group has a healthy balance sheet with a prudent gearing of below 0.3 times.
Gamuda is bidding for projects in Australia and has been shortlisted for two tenders: the A$5 billion (RM15 billion) Sydney Metro West Project (central and west packages) and the A$2.5 billion Western Sydney Airport Metro line (station box and tunnelling package).
Source: The Sun Daily
