Gamuda earnings soar in third quarter

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The group's net profit jumped 56.1% to RM221.48mil in 3Q22, from RM141.88mil in the same period a year ago.

Gamuda said its improved profitability was bolstered by better earnings performance from its property and construction divisions.’s net profit jumped 56.1% to RM221.48mil in the third quarter ended April 30 from RM141.88mil in the same period a year ago, mainly driven by higher overseas property earnings.

Revenue for the quarter rose 21.5% y-o-y to RM1.18bil as works on all fronts picked up pace, leading to higher property and construction earnings. “Overseas projects remain our biggest contributor, especially in Vietnam and Singapore which contributed 53% of the total property sales. The board has declared a second interim dividend of 6 sen per share for 3Q22, as earnings per share rose to 8.72 sen per share in the quarter from 5.65 sen a year ago.

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