IJM Corp falls 11% in morning trade on Q4 results and aborted MRT3
31 May 2018 / 11:39 H.
PETALING JAYA: IJM Corp Bhd's share price fell as much as 11% in morning trade, after fourth quarter ended March 31, 2018 earnings fell 95.3% to RM11.19 million and the surprise government announcement that the RM40 billion MRT3 project has been scrapped.
IJM’s revenue also declined 16.2% to RM1.4 billion for the quarter under review from RM1.67 billion.
The group's shares were trading at 18 sen lower at RM1.66, with some 10.3 million shares traded.
IJM’s full-year net profit contracted 46.5% to RM349.81 million from RM653.77 million, while revenue was marginally down by 0.6% to RM6.03 billion from RM6.07 billion.