PETALING JAYA: Gamuda Bhd
's earnings grew by 5% year-on-year (y-o-y) to RM229.5mil in the second quarter ended Jan 31, 2026, helped by contributions from its domestic construction projects.
Revenue in the quarter grew 10% y-o-oy to RM4.3bil on the back of stronger contributions from its domestic construction projects and the successful implementation of quick-turnaround projects (QTPs) in Vietnam, where the Eaton Park & Elysian projects exceeded sales expectations.
The number could have been better if not for lower overseas contribution as some of its Australian projects neared completion.
In a filing with Bursa Malaysia, Gamuda noted the quarter saw a big expansion in its Australian business after securing several major infrastructure and energy-related contracts worth a combined RM9.5bil, leading to a record-breaking group orderbook of RM44bil.
Gamuda noted its financial year 2026's (FY26) earnings performance will be largely driven by its domestic construction projects, including the construction of several data centres and higher contribution from the various property QTPs especially Vietnam’s Eaton Park project which has generated robust sales with higher margins.
Gamuda's property division has acquired several landbanks to boost its QTP portfolio in Vietnam and Singapore. The purchases and spendings to develop existing projects has raised the group's gearing to 68% from 53% in FY25.
For the first half of FY26, Gamuda's revenue rose 1% y-o-y to RM8.1bil while earnings are up 5% to RM444.6mil primarily due to stronger domestic construction projects.
