IJM’s FY2026 revenue up 10% to RM6.88 bil; construction and industry divisions anchored by RM14.7 bil order book

KUALA LUMPUR (May 29): IJM Corp Bhd closed its financial year ended March 31, 2026 (FY2026) with higher revenue and a stronger construction and industry pipeline, even as sizeable non‑cash items dragged its fourth‑quarter bottom line into the red. 

For the fourth quarter ended March 31, 2026 (4QFY2026), group revenue rose 4.2% year-on-year to RM1.87 billion from RM1.79 billion, supported by contributions across its core divisions. For the full year, revenue grew 10% to RM6.88 billion compared with RM6.25 billion in FY2025, IJM said in its Bursa filing yesterday.

The group posted a loss before tax of RM56.18 million in 4QFY2026, versus a profit before tax of RM257.38 million a year earlier. This was after recognising higher unfavourable foreign exchange differences and provisioning and impairment items at the operating level, including an impairment of unsold inventories and a maintenance provision for its toll division, as detailed in the notes to its quarterly report. 

After tax, the quarter registered a net loss of RM190.27 million, compared with a net profit of RM132.02 million previously. For FY2026 as a whole, IJM remained marginally in the black, with net profit attributable to shareholders of RM3.25 million versus RM403.38 million in FY2025, on the back of the non‑recurring items and foreign exchange movements recorded in the current year. 

Despite the weaker reported earnings, the group proposed a second interim single‑tier dividend of five sen per share and a special single‑tier dividend of one sen per share, bringing total dividends for FY2026 to eight sen per share — unchanged from FY2025. 

The interim and special dividends are payable on July 24, 2026, with an ex‑date of June 29, 2026 and entitlement date of June 30, 2026. On the balance sheet, IJM reported net assets per share of RM2.84 as at March 31, 2026, compared with RM2.93 a year earlier. 

Looking ahead, IJM said its construction division is expected to deliver better performance in the new financial year, underpinned by a strong order book of RM14.7 billion, including the group’s share of joint ventures and associates. 

The industry division is also expected to sustain its strong performance, supported by demand from data centre, large‑scale industrial building and infrastructure jobs. 

The property division noted early signs of softening in the domestic market due to weaker consumer sentiment, but aims to drive sales via responsive pricing and product differentiation, supplemented by land disposals. 

The toll division is expected to continue providing steady recurring income, with the recently secured NPE 2 concession adding long‑term earnings visibility, while the port business anticipates a mixed outlook as a major customer progressively resumes operations against a backdrop of geopolitical risks to global trade. 

“Barring the uncertain macroeconomic outlook due to geopolitical tensions, the group is confident that it can deliver an improved operational performance for the new financial year,” IJM said.

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