Gadang shares flat on slight dip in Q4 profit

PETALING JAYA: Gadang Holdings Bhd’s share price remained flat this morning after it reported a slight dip in its fourth quarter ended May 31, 2017 net profit on a RM1.7 million loss from discontinued operations.

As at 10.46am, Gadang’s share price stood at RM1.28 with 2.48 million shares changing hands. It has a market capitalisation of RM848 million.

The group made a net profit of RM30.0 million for the quarter, compared with RM31.1 million for the same quarter in the preceding year.

Profit before tax for the quarter however was 17% higher at RM45.0 million on improved profit margins from construction projects and higher contributions from property activities. This was on a 33.8% drop in revenue to RM163.8 million, from RM247.5 million.