Gamuda sees stronger earnings on business pick-up

In a statement, it said the construction division delivered a solid earnings performance, with construction earnings jumping 46% to RM253mil due to higher earnings contribution from the MRT Putrajaya Line (pic).

PETALING JAYA: Gamuda Bhd swung to a net profit of RM214.08mil in the fourth quarter (Q4) of its financial year ended July 31, 2021 (FY21) from a net loss of RM12.52mil for Q4 of FY20.

The company attributed the increase in its quarterly earnings to stronger construction and property earnings, as works on all fronts picked up pace on the back of rigorous Covid-19 control measures adopted by the group, and the absence of last year’s one-off non-cash industrialised building system assets impairment of RM148.1mil.