Gamuda's Q2 earnings rise 27% to RM211.3 million

PETALING JAYA: Gamuda Bhd's net profit grew 27.1% to RM211.3 million in the second quarter ended Jan 31, 2018, from RM166.3 million in the previous corresponding quarter.
The group told the stock exchange, the increase in profit was mainly due to higher work progress from its various construction projects, coupled with stronger overseas property sales and new property projects in Malaysia.
Revenue for the quarter increased 17.4% to RM1 billion, compared with RM853.88 million in the same period a year ago.
For the six-month period, Gamuda's net profit rose 26.1% to RM414.3 million against RM328.4 million a year earlier, while revenue jumped 30.6% from RM1.36 billion to RM1.77 billion.
On its prospects, Gamuda said it anticipates a better performance this year as MRT Line 2's progress picks up pace, higher property sales driven by overseas projects especially Vietnam and the new townships in Malaysia. The group also expects steady earnings contribution from its expressway division.
Gamuda shares closed two sen or 0.39% higher at RM5.12 with 2.15 million shares traded.