KUALA LUMPUR (March 28): Infrastructure-based GAMUDA BHD []’s earnings rose 45.1% to RM136.47 million in the second quarter ended Jan 31, 2012 compared with RM94.02 million a year ago, underpinned by higher contributions from the CONSTRUCTION [] and property divisions.
Announcing the results on Wednesday, Gamuda expected to achieve a stronger performance this year supported by its on-going construction projects, continued strong property sales and steady earnings from the water and expressway concessions divisions.
Its revenue increased by 26.7% to RM769.33 million from RM607.19 million. Earnings per share were 6.6 sen compared with 4.59 sen.
For the first half, earnings increased by 47.2% to RM268.79 million from RM182.55 million in the previous corresponding period. Revenue rose 13.6% to RM1.411 billion from RM1.241 billion.
Commenting on its construction division, it said the increase in profit before taxation was due to higher work progress from the electrified double tracking railway project.
Its property division benefited from higher profits from existing projects in Malaysia and Celadon City’s land sale to Aeon Co. of Japan.
As for the water and expressway concessions division, Gamuda said the financial performance was consistent with last year’s performance.
On the electrified double tracking railway project, it said progress was on schedule with 77% of the works completed. The scheduled completion date for the main section of works from Padang Besar to Ipoh (Spine line) is June 2014, whereas the section of works from Bukit Mertajam to Butterworth (Spur line) is scheduled for completion in November 2014.
On the new Doha international airport project in Qatar, it said the project was substantially completed and was in the early stage of the testing and commissioning phase. It was expected to be handed over to the client in July 2012.
On the Yen So sewage treatment plant project in Hanoi, Vietnam, Gamuda said the project was substantially completed and it was undergoing the testing and commissioning phase. The completed project is expected to be handed over to the client in May 2012.
Announcing the results on Wednesday, Gamuda expected to achieve a stronger performance this year supported by its on-going construction projects, continued strong property sales and steady earnings from the water and expressway concessions divisions.
Its revenue increased by 26.7% to RM769.33 million from RM607.19 million. Earnings per share were 6.6 sen compared with 4.59 sen.
For the first half, earnings increased by 47.2% to RM268.79 million from RM182.55 million in the previous corresponding period. Revenue rose 13.6% to RM1.411 billion from RM1.241 billion.
Commenting on its construction division, it said the increase in profit before taxation was due to higher work progress from the electrified double tracking railway project.
Its property division benefited from higher profits from existing projects in Malaysia and Celadon City’s land sale to Aeon Co. of Japan.
As for the water and expressway concessions division, Gamuda said the financial performance was consistent with last year’s performance.
On the electrified double tracking railway project, it said progress was on schedule with 77% of the works completed. The scheduled completion date for the main section of works from Padang Besar to Ipoh (Spine line) is June 2014, whereas the section of works from Bukit Mertajam to Butterworth (Spur line) is scheduled for completion in November 2014.
On the new Doha international airport project in Qatar, it said the project was substantially completed and was in the early stage of the testing and commissioning phase. It was expected to be handed over to the client in July 2012.
On the Yen So sewage treatment plant project in Hanoi, Vietnam, Gamuda said the project was substantially completed and it was undergoing the testing and commissioning phase. The completed project is expected to be handed over to the client in May 2012.
