Gamuda up 1.55% on 3Q earnings, dividend

KUALA LUMPUR (June 28): Gamuda Bhd shares rose 1.55% this morning after the company announced yesterday that its net profit in the third quarter ended April 30, 2018 (3QFY18) grew 17%.

At 11.25am, Gamuda gained 5 sen to RM3.27 with 1.02 million shares done.

The group said 3QFY18 net profit rose to RM200.69 million, from RM170.93 million a year ago, mainly due to higher work progress from the group's construction projects, stronger overseas property sales and contribution from several new property projects in Malaysia.

Quarterly earnings per share rose to 8.16 sen from 7.04 sen in 3QFY17. Revenue for the quarter jumped 47% year-on-year (y-o-y) to RM1.24 billion from RM839.49 million.

The group announced a 6 sen second interim dividend, payable on July 31.

For the nine-month period ended April 30 (9MFY18), Gamuda's net profit grew 23% y-o-y to RM614.96 million from RM499.34 million, as revenue leapt 37% y-o-y to RM3.01 billion from RM2.2 billion, with better contribution from all three core operations, led by its engineering and construction segment. — theedgemarkets.com

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