KUALA LUMPUR (Feb 22): IJM CORPORATION BHD []’s earnings rose 5.7% to RM135.23 million in the third quarter ended Dec 31, 2011 from RM127.96 million a year ago.
It said on Wednesday its revenue chalked up 30.1% increase to RM1.172 billion from RM901.34 million. Earnings per share were 9.81 sen compared with 9.47 sen.
“The group’s pre-tax profit increased by 12.7% to RM247.7 million compared to the corresponding quarter of the preceding year with all operating divisions except property achieving profit growth,” it said.
IJM Corp said for the nine-month period, its net profit was 1.1% higher at RM325.04 million from RM328.83 million. Its revenue rose at a stronger pace of 23.6% to RM3.303 billion from RM2.672 billion.
On the outlook, it said the group’s CONSTRUCTION [] division’s performance was expected to improve as many of the sroup’s local projects are expected to gain momentum in the current financial year.
“Order book has been boosted by the recent procurement of Package V5 of the Sungei Buloh-Kajang My Rapid Transit (MRT) line and replenishment prospects remain encouraging with potential contract spin-offs from the West Coast Expressway project,” it said.
As for the group’s property division, it expected it to sustain its performance in the current financial year on the back of strong unbilled sales of about RM1 billion.
“Assuming the current level of palm product prices maintain, the Group’s PLANTATION [] division expects a satisfactory level of profitability,” it said.
Malaysian tolling and port operations are expected to continue to provide steady revenue streams to the group’s Infrastructure division. Initial expensing of higher finance costs and amortisation of new toll concessions in India are however expected to dampen its divisional results.
It said on Wednesday its revenue chalked up 30.1% increase to RM1.172 billion from RM901.34 million. Earnings per share were 9.81 sen compared with 9.47 sen.
“The group’s pre-tax profit increased by 12.7% to RM247.7 million compared to the corresponding quarter of the preceding year with all operating divisions except property achieving profit growth,” it said.
IJM Corp said for the nine-month period, its net profit was 1.1% higher at RM325.04 million from RM328.83 million. Its revenue rose at a stronger pace of 23.6% to RM3.303 billion from RM2.672 billion.
On the outlook, it said the group’s CONSTRUCTION [] division’s performance was expected to improve as many of the sroup’s local projects are expected to gain momentum in the current financial year.
“Order book has been boosted by the recent procurement of Package V5 of the Sungei Buloh-Kajang My Rapid Transit (MRT) line and replenishment prospects remain encouraging with potential contract spin-offs from the West Coast Expressway project,” it said.
As for the group’s property division, it expected it to sustain its performance in the current financial year on the back of strong unbilled sales of about RM1 billion.
“Assuming the current level of palm product prices maintain, the Group’s PLANTATION [] division expects a satisfactory level of profitability,” it said.
Malaysian tolling and port operations are expected to continue to provide steady revenue streams to the group’s Infrastructure division. Initial expensing of higher finance costs and amortisation of new toll concessions in India are however expected to dampen its divisional results.
