Gamuda core net profit hits new high

Gamuda Singapore, a wholly owned subsidiary of Gamuda Bhd, made a joint bid of S$318.89mil (RM963mil) for the tract earmarked for executive condominium development .

KUALA LUMPUR: Gamuda Bhd took a one-time hit in the fourth quarter arising from the disposal of its water assets to the Selangor state government, but a jump in property sales overseas boosted its annual core profit to a new high.

The company made a net loss of RM101mil in the three-month ended July 31, the company said in a filing with Bursa Malaysia on Friday. Excluding the one-off loss of RM300mil on disposal of Splash and RM4mil on investment in Gamuda Water, core net profit in the last quarter was RM203mil.