Gamuda today posted a 5% rise in its quarterly earnings to RM215 million from last year’s RM205 million, primarily driven by robust contributions from domestic construction projects and the successful execution of quick-turnaround projects (QTP) in Vietnam.
The Group declared an interim dividend of 5 sen per share, unchanged from the same period last year.
Quarterly construction revenue was flat due to the delays in the awards of several new domestic contracts, while some Australian projects are near completion. The construction net profit rose 10% due to stronger earnings from ongoing domestic construction contracts.
Looking ahead, the Group anticipates that this year’s earnings performance will be driven mainly by newly awarded domestic construction projects, including the construction of several data centres and higher contributions from various property QTPs in Vietnam.
The Group’s resilience is anchored by its construction orderbook balance of RM37 billion and unbilled property sales of RM8 billion.
