Gamuda core net profit above forecast

The suspension could be possibly the resolution of the impasse in the Selangor water deal.

PETALING JAYA: Infrastructure-property company Gamuda Bhd’s core net profit for the financial year ended July 31 was 15% above CIMB Equities Research’s full-year forecast and 9% above consensus estimates.

The research house said Gamuda recognised a RM304.5mil impairment from the water deals – where it sold a 40% stake in Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (Splash) and got a receivables haircut for 80%-owned Gamuda Water.