Gamuda net profit swells to RM214mil in Q4 as workflow picks up

KUALA LUMPUR (Bernama) -- Gamuda Bhd posted a net profit of RM214.1 million for the fourth quarter ended July 31, 2021, compared with a loss of RM12.5 million in the same quarter last year amid stronger construction and property earnings as work on all fronts picked up pace on the back of rigorous COVID-19 control measures.

The better profit for the quarter ended July 31, 2021, was also attributed to the absence of last year’s one-off non-cash Industrialised Building System (IBS) assets impairment of RM148.1 million, it said in a filing to Bursa Malaysia.