Gamuda's net profit surges to RM1.84bil in FY23

KUALA LUMPUR: Gamuda Bhd anticipates a significant uptick in activities next year, driven by overseas construction businesses including the full year contribution from the newly acquired Australian transport business of Downer Transports Projects and property sales including higher contribution from newly launched quick-turnaround-projects (QTPs).

“Moving forward, the resilience of the group is underpinned by a large construction orderbook of RM21bil including a RM4.4bil orderbook boost from the acquisition of Downer Transport Projects in Australia and unbilled property sales of RM6.7bil.

“On top of that, the group has a healthy balance sheet with a comfortable net gearing of 25%, well below its self-imposed gearing limit of 70%,” Gamuda said in the notes accompanying its financial results.

In the fourth quarter ended July 31, Gamuda posted a net profit of RM251.7mil, or earnings per share of 9.46 sen against RM255.2mil, or 10.00 sen in the previous corresponding quarter.

Revenue surged 84% to RM3.4bil from RM1.8bil a year prior.

For the full financial year ended July 31, it posted a net profit of RM1.8bil, up from RM806.2mil last year while revenue rose 68% to RM8.2bil against RM4.9bil previously.

Gamuda said its construction order book hit a record high of RM21bil, and property sales surged to RM4.1bil, setting new records during the year.

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Gamuda , construction , property , orderbook


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