Friday, December 16, 2011

Gamuda 1Q net profit up 49.5% to RM132.32m

KUALA LUMPUR (Dec 16): GAMUDA BHD []'s net profit for the first quarter ended Oct 31, 2011 jumped 49.5% to RM132.32 million from RM88.53 million a year earlier due to higher contributions from all divisions.

It said on Friday that revenue for the quarter rose marginally to RM641.99 million from RM634.2 million in 2010.

Earnings per share were 6.41 sen compared to 4.35 sen a year earlier, while net assets per share was RM1.85.

Reviewing its performance, Gamuda said the increase in profit resulted from higher contributions from the CONSTRUCTION [] and property divisions.

On its prospects, Gamuda said it expects to achieve a stronger performance this year supported by its ongoing construction projects, continued strong property sales and steady earnings from the water and expressway concessions divisions.

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