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Gamuda posts net profit of RM193.69m for FY2010

KUALA LUMPUR: Gamuda Bhd posted revenue and net profit of RM2.455 billion and RM289.49 million respectively for its 2010 financial year (FY2010) ended July 31, 2010.

Comparatively, the company posted revenue and net profit of RM2.727 billion and RM193.69 million respectively a year ago.

The company said on Tuesday, Sept 28 that the increase in profit are due to higher contributions from all divisions.

For its fourth quarter (4Q), the company posted revenue and net profit of RM714.8 million and RM77.31 million respectively.

With existing construction projects progressing on schedule and the strong property sales recorded by the property division, it is confident of performing better in the next financial year.

Among the projects are the construction of the new Doha International Airport, which is scheduled for completion next year; the Yenso Park and Sewage Treatment Plant in Vietnam; and work on the electrified double track project in Malaysia, which is expected to accelerate in the next year.

On the property front, the company said it continues to benefit from improved market sentiments due to the strategic locations of its land banks and the higher demand for recently launched products.

Several launches in Hanoi and Ho Chi Minh City are planned for the new financial year.
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