KUALA LUMPUR: Analysts have raised optimism on Gamuda Bhd’s prospects in the financial year ending, July 31, 2018 (FY18), in anticipation of stronger influx of mega projects. MIDF Research said the projects could add another 15 per cent to the current Gamuda’s unbilled orderbook about RM7.7 billion. “We expect Gamuda may win sub-contracting jobs from Gemas-Johor Bahru double track railway project that has been awarded to YTL Corp,” the research firm said in a note today. “Hence, we raised our FY18-19 earnings higher by eight to three per cent, as we factor in higher billings contribution from property division.”Kenanga Research also adjusted its earnings forecast for Gamuda with higher target price of RM5.50 from RM5.45 previously. Revenue in Q2 jumped 17.65 per cent to RM1 billion from RM853.88 million in the same period a year ago.

Source: New Strait Times March 26, 2018 07:07 UTC