Gamuda Proposes Bonus Issue After Record-breaking RM15 Bln Revenue In FY2024

KUALA LUMPUR, Sept 26 (Bernama) -- Gamuda Bhd has proposed a bonus issue to reward its shareholders following its strong performance in the financial year ended July 31, 2024 (FY2024), with annual revenue rising 63 per cent year-on-year to RM15 billion.

In a statement today, the company highlighted that its overseas construction revenue tripled, reaching RM9 billion from RM3.5 billion, with growth anchored by a construction order book worth RM25 billion.  

“Excluding the discontinued highway operations, the group’s core net profit grew 12 per cent to RM912 million compared to RM815 million last year, primarily due to higher overseas construction earnings and stronger domestic property earnings and margins,” it added.

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In recognition of this record-breaking performance, the company has proposed a bonus issue of new ordinary shares, with a ratio of one bonus share for every existing ordinary share held.

The entitlement date will be announced later.

For the fourth quarter, Gamuda reported a 39 per cent increase in revenue reaching RM4.8 billion,  compared to RM3.4 billion in the corresponding quarter of the previous year.

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“Quarterly net profit grew by eight per cent to RM272 million compared with RM252 million in the previous comparative quarter,” the company said.

Looking ahead, Gamuda expects next year’s performance to be driven by both overseas and domestic construction activities, including the construction of several data centres and higher contributions from the property division’s various quick-turnaround projects.

“As for our unbilled property sales, it stood at RM7.7 billion,” it said.

Gamuda’s balance sheet remains healthy, with a comfortable net gearing of 39 per cent, well below its self-imposed limit of 70 per cent.

-- BERNAMA