Gadang registered a core net profit of RM1.9mil for the first quarter of FY21, which came in below analysts’ expectations, accounting for 4.8% of consensus’ full-year estimates.This was mainly due to lower-than-expected contribution from the construction division, both in terms of revenue and margin.
PETALING JAYA: Gadang Holdings Bhd
’s weaker-than-expected first quarter results, coupled with a challenging outlook, have prompted TA Securities to trim its earnings forecasts for the construction and property development company.
The research house also downgraded its construction progress and margin assumptions for the various projects under Gadang.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
