Wednesday, 17 December 2014

Gamuda Q1 earnings up 12% to RM185.8mil

KUALA LUMPUR: Gamuda Bhd’s earnings in the first quarter ended Oct 31, 2014 rose 12.3% year-on-year to RM185.8mil from RM165.5mil, as its revenue improved 17.2% to RM569.6mil from RM486mil.

Earnings per share in the quarter went up to 8 sen from 7.25 sen in the corresponding quarter a year earlier.

The company, which is involved in construction, property, and water and highway concessions, declared a dividend of 6 sen per share, payable on Jan 28, 2015.

Gamuda said the increase in revenue was mainly due to recognition of revenue from Kesas Sdn Bhd, concession holder of the Shah Alam Expressway, for which it had upped its stake. 

The company said its property division and its water and expressway divisions recorded higher revenue and profits in the quarter under report. However, the construction division recorded lower revenue following the completion of the electrified double-tracking railway project in early November 2014.

Gamuda said it was anticipating a good performance this year from on-going construction projects, substantial unbilled sales of the property division and steady earnings from the water and expressway concessions division.

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