Gamuda’s Q4 earnings up 19.3% to RM167.7mil, improvement in revenue of 37.2% from the corresponding quarter last year
KUALA LUMPUR: Gamuda Bhd’s fourth quarter earnings for the financial year ending July 31, 2013, rose 19.3% to RM167.68mil from RM140.5mil in the same period last year as its revenue hit RM1.331bil.
This represented improvement in revenue of 37.2% from the corresponding quarter last year, when revenue was RM969.81mil.
Earnings per share for the quarter came in at 7.45 sen from 6.76 sen.
In its filing with Bursa Malaysia on Thursday, the company said: “The Board of Directors does not recommend the payment of any final dividend in respect of the financial year ended July 31, 2013.”
The total dividend per share paid for the current financial year was the single tier interim dividend of 12 sen, amounting to RM261.9mil.
Gamuda’s revenue for the full year rose 25.7% to RM3.883bil from RM3.087bil previously. However, the company’s full year earnings saw a 1% drop to RM541.4mil from RM547.3mil.
Earning per share for the full year was 25.37 sen compared to 26.42 sen.
The company said its construction division recorded increased revenue for the quarter and year-to-date from higher work progress from the Klang Valley Mass Rapid Transit Project. However, profit before taxation decreased because of arbitral awards and other costs rendered by the Arbitral Tribunals in favour of the group’s sub-contractors.
The amount deducted due to reversal of provision/arbitral awards and other costs for quarter was RM2.3mil. For the full year, it amounted RM110.7mil.
As for its property division, Gamuda said profit before tax was lower for the quarter and year because of lower profits from its Celadon City project in Ho Chi Minh City, Vietnam. Its water and expressway concession division, however, contributed to an increase in profit before taxation.
“The group expects its performance next year to improve due to on-going construction projects, substantial unbilled sales of the property division and steady earnings from the water and expressway concessions division,” Gamuda said.
- The Star Biz
