Gamuda posts record net profit of RM806.23mil in FY22


KUALA LUMPUR: Gamuda Bhd closed its 2022 financial year with record-breaking earnings in its property and engineering divisions, which boosted the group's net profit to an all-time high of RM806.23mil.

In a filing with Bursa Malaysia, the group reported earnings per share of 31.96 sen in FY22 as compared with 23.42 sen in the previous year.

Gamuda noted the 37% jump in its bottomline was owing in part to its property division, which achieved a historic sales figure of RM4bil, a 40% jump from the previous year.

Property revenue hit a record of RM2.7bil, 111% higher year-on-year (y-o-y), while property earnings came in 97% higher at RM340mil.

According to the group, its strategic move to expand its overseas market footprint in the engineering and property sectors also resulted in overseas earnings tripling to RM292mil as compared with RM98mil in the previous year.

Meanwhile, Gamuda Engineering's net profit hit an all-time high of RM343mil as work progress picked up the pace on all fronts.

Overall, the group's revenue jumped 50.5% year-on-year to RM4.92bil in FY22.

On future performance, Gamuda said it will be driven by property sales and a pick up in work progress of its Australia projects - the Sydney Metro West– Western Tunnelling Package and Coffs Harbour Bypass - as well as works to complete the Mass Rapid Transit Putrajaya Line.

This comes following the sale of four highways to Amanat Lebuhraya Rakyat by October this year.

"Moving forward, the resilience of the group is underpinned by its large construction orderbook of nearly RM14bil and unbilled property sales of RM6.2bil.

"On top of that, the group has a healthy balance sheet with a currently low gearing of 0.1 time which will turn net cash positive upon completion of the highway sale," it said.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Gamuda , property , engineering

   

Next In Business News

Tiong Nam sees higher demand for for logistics, warehousing services in FY23
Leong Hup returns to the black, 3Q net profit at RM67.31mil
Malakoff 3Q net profit jumps 53.4% to RM66.5mil
IHH 3Q profit falls to RM252mil on exceptional items, financial reporting adjustments
Ringgit reverses gains against US dollar on profit-taking
Boustead net profit jumps to RM99.6mil in 3Q
Press Metal 3Q net profit grows 11.5% to RM315.8mil
Genting Malaysia misses Macau licence
Celcom 3Q22 Patami up 65.3% at RM856mil
Kerjaya Prospek's construction segment to drive revenue growth

Others Also Read