Fajarbaru's 3Q profit soars over 14 times to highest in over 20 years
Its property segment recorded a six-fold jump in profit before tax to RM33.
Its property segment recorded a six-fold jump in profit before tax to RM33.
Its group managing director Datuk Azmir Merican Azmi Merican said the group’s financial result for the first quarter ended March 31, 2024 (1QFY2024) serves as a strong testament to the effectiveness of having a good product mix as a tool to fortify margins.
Core net profit for the first three months ended March 31, 2024 (1QFY2024) accounted for 29% of consensus’ full-year estimates, which was above expectations, as analysts noted that SimeProp usually reports stronger results in the second half.
Revenue more than doubled to RM3.
The group’s Iskandar Malaysia projects outperformed strongly with RM723 million sales achieved, representing 57% of total year-to-date sales.
The property developer declared a second interim dividend of 1.
Revenue declined by 34.
In a note on Monday, the research house said Gamuda’s FY2023 CNP grew 7% year-on-year, another record high, as contributions from overseas engineering and construction (E&C) jobs offset earnings foregone post the sale of its tolled highways in October 2022.
On Wednesday, Gamuda reported that its net profit rose to RM1.