Gamuda’s 2Q web revenue rises to RM177.13mil

KUALA LUMPUR: Gamuda Bhd‘s web revenue for the second quarter ended Jan 31, 2022 (Q2FY2022) rose to RM177.13 million from RM123.24 million a yr in the past supported by the higher earnings within the building and property divisions.

Income elevated to RM1.29 billion from RM895.41 million as works on all fronts picked up the tempo whereas earnings per share elevated to 7.05 sen from 4.90 sen, it mentioned in a submitting with Bursa Malaysia at this time.

“The continued dangers to the nation’s financial and financial outlook posed by the development of the COVID-19 pandemic and uncertainties surrounding the Delta and now Omicron variants have dampened financial exercise.

“Public spending and stimulus for infrastructure improvement constrained by rising authorities fiscal burden may even see some momentum with the federal government’s revival of public-private partnerships (PPP 3.0),” it mentioned.

It mentioned this yr’s efficiency is anticipated to be pushed by abroad and native property gross sales and the continued progress of Mass Fast Transit (MRT) Putrajaya Line, previously known as MRT Line 2.

Shifting ahead, it mentioned the resilience of the corporate is underpinned by its building order e book, which tripled to RM10.4 billion following its profitable bids for the two.16 billion Australian {dollars} (1 Australian greenback=RM3.16) Sydney Metro West-Western Tunnelling Bundle in Australia and the 467 million Singapore greenback (1 Singapore greenback=RM4.22) Defu station and tunnels mission in Singapore.

It added that on prime of that, Gamuda has unbilled property gross sales totaling RM5.2 billion and a wholesome stability sheet with a low gearing of 0.2 instances coupled with a powerful money place. – Bernama


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