KUALA LUMPUR: Gamuda Bhd’s revenue jumped to RM1.01 billion in the fourth quarter ended July 2017 from RM614 million in the same period a year ago. For the full year period, the company registered RM3.2 billion in revenue higher than RM2.12 billion a year ago mainly due to higher work progress of the group’s various construction projects and better property sales. Its net profit of RM602.09 million for the full year was however lower than RM626.13 million a year ago mainly due to one-off provision for impairment on the SMART Expressway of RM98.45 million. The group however expects better performance next year as the Mass Rapid Transit Line 2’s progress picks up pace and contributions from steady earnings of the expressway division. “The property division’s performance is also expected to be stronger next year due to the launches of several new projects in Malaysia and overseas,” it added.

Source: New Strait Times September 28, 2017 14:03 UTC