KUALA LUMPUR (Dec 16): GAMUDA BHD [] posted net profit of RM132.32 million in the first quarter ended Oct 31, 2011, up 49.5% from RM88.53 million a year ago due to higher contributions from all divisions.
Following the strong performance, the infrastructure-based company had on Friday provided an upbeat outlook for the group. It said it expected to achieve a stronger performance this year supported by its ongoing CONSTRUCTION [] projects, continued strong property sales and steady earnings from the water and expressway
The revenue for the quarter rose marginally to RM641.99 million from RM634.2 million in 2010. It declared a single-tier first interim dividend of 6.0 sen per share. Earnings per share were 6.41 sen compared to 4.35 sen a year earlier, while net assets per share were RM1.85.
The group posted profit before taxation of RM167.2 million for the current quarter which was higher than the fourth quarter’s profit before taxation of RM151.1 million. The higher profit was from higher contributions from the construction and property divisions.
On the construction division, it said there were four projects underway, including the Klang Valley Mass Rapid Transit project, electrified double tracking railway project, New Doha International Airport project in Qatar and the Yen So sewage treatment plant project in Hanoi, Vietnam
As for the Klang Valley MRT, it said to-date, nine packages for preparatory and preliminary works have been successfully tendered and awarded to various contractors.
“Tenders have been called for some of the remaining 80 works packages comprising elevated civil works, stations, systems and the underground works package. The awards to the successful bidders are expected to be made from early 2012 and substantially completed by the 4th quarter of 2012,” it said.
As for the railway project, it said 71% of the works were completed. The scheduled completion date for the main section of works from Padang Besar to Ipoh (Spine line) was June 2014, whereas completion of the section of works from Bukit Mertajam to Butterworth (Spur line) is November 2014.
On the New Doha International Airport, it said the project was 98% completed and the company was preparing to hand over the completed works to the client in January 2012.
Gamuda said the Yen So sewage treatment plant was 95% completed and it was in the testing and commissioning phase and to be handed over in May 2012.
As for the property division, it said for the current quarter, Gamuda Land continued to realise robust sales across all its ongoing projects. The division recorded RM450 million in sales while unbilled sales at the end of this quarter exceeds RM1 billion.
As for Gamuda Land’s Celadon City project in Ho Chi Minh City, Vietnam which was launched, the initial sales reflected the sluggish property sector in the country, especially for apartments, but sales momentum was expected to pick up in the coming months.
“Infrastructure works in Gamuda City and Celadon City are progressing on schedule and building construction works have commenced in Celadon City,” it said.
As for the expressway concessions division, it said the traffic volumes remain stable and resilient. It added a long term solution to resolve the issue of toll increases from the government is still pending.
Following the strong performance, the infrastructure-based company had on Friday provided an upbeat outlook for the group. It said it expected to achieve a stronger performance this year supported by its ongoing CONSTRUCTION [] projects, continued strong property sales and steady earnings from the water and expressway
The revenue for the quarter rose marginally to RM641.99 million from RM634.2 million in 2010. It declared a single-tier first interim dividend of 6.0 sen per share. Earnings per share were 6.41 sen compared to 4.35 sen a year earlier, while net assets per share were RM1.85.
The group posted profit before taxation of RM167.2 million for the current quarter which was higher than the fourth quarter’s profit before taxation of RM151.1 million. The higher profit was from higher contributions from the construction and property divisions.
On the construction division, it said there were four projects underway, including the Klang Valley Mass Rapid Transit project, electrified double tracking railway project, New Doha International Airport project in Qatar and the Yen So sewage treatment plant project in Hanoi, Vietnam
As for the Klang Valley MRT, it said to-date, nine packages for preparatory and preliminary works have been successfully tendered and awarded to various contractors.
“Tenders have been called for some of the remaining 80 works packages comprising elevated civil works, stations, systems and the underground works package. The awards to the successful bidders are expected to be made from early 2012 and substantially completed by the 4th quarter of 2012,” it said.
As for the railway project, it said 71% of the works were completed. The scheduled completion date for the main section of works from Padang Besar to Ipoh (Spine line) was June 2014, whereas completion of the section of works from Bukit Mertajam to Butterworth (Spur line) is November 2014.
On the New Doha International Airport, it said the project was 98% completed and the company was preparing to hand over the completed works to the client in January 2012.
Gamuda said the Yen So sewage treatment plant was 95% completed and it was in the testing and commissioning phase and to be handed over in May 2012.
As for the property division, it said for the current quarter, Gamuda Land continued to realise robust sales across all its ongoing projects. The division recorded RM450 million in sales while unbilled sales at the end of this quarter exceeds RM1 billion.
As for Gamuda Land’s Celadon City project in Ho Chi Minh City, Vietnam which was launched, the initial sales reflected the sluggish property sector in the country, especially for apartments, but sales momentum was expected to pick up in the coming months.
“Infrastructure works in Gamuda City and Celadon City are progressing on schedule and building construction works have commenced in Celadon City,” it said.
As for the expressway concessions division, it said the traffic volumes remain stable and resilient. It added a long term solution to resolve the issue of toll increases from the government is still pending.
