,In a statement, it said the construction division delivered a solid earnings performance, with construction earnings jumping 46% to RM253mil due to higher earnings contribution from the MRT Putrajaya Line (pic).
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PETALING JAYA: Gamuda Bhd swung to a net profit of RM214.08mil in the fourth quarter (Q4) of its financial year ended July 31, 2021 (FY21) from a net loss of RM12.52mil for Q4 of FY20.
The company attributed the increase in its quarterly earnings to stronger construction and property earnings, as works on all fronts picked up pace on the back of rigorous Covid-19 control measures adopted by the group, and the absence of last year’s one-off non-cash industrialised building system assets impairment of RM148.1mil.
For the quarter in review, Gamuda’s revenue stood at RM886.67mil, compared with RM926.52mil in Q4 of FY20.
It posted an earnings per share of 8.52 sen for Q4 of FY21, compared with a loss per share of 0.50 sen for Q4 of FY20.
Year to date, Gamuda’s net profit grew 56% to RM588.32mil, compared with RM376.50mil in FY20 due to stronger construction and property earnings as work picked up pace.
For FY21, its revenue stood at RM3.52bil, compared with RM3.66bil in FY20.
In a statement, it said the construction division delivered a solid earnings performance, with construction earnings jumping 46% to RM253mil due to higher earnings contribution from the MRT Putrajaya Line (with its first phase opening by mid-November 2021).
“Property sales jumped 32% more than last year as overseas sales (Vietnam and Singapore) contributed two-thirds of the group sales,” Gamuda said, adding that it sold RM2.9bil worth of properties this year. “The resilience of the group is underpinned by a construction order book of RM4.5bil and unbilled property sales totalling RM4.6bil,” it noted.