GAMUDA SHARES RISE ON ROBUST DOMESTIC CONSTRUCTION GROWTH

KUALA LUMPUR, March 27 (Bernama) -- Shares of Gamuda Bhd rose in early trade today, supported by stronger financial performance in the second quarter ended Jan 31, 2025 (2Q FY2025), driven by robust growth in domestic construction activities.

Gamuda’s core net profit grew 4.0 per cent year-on-year (y-o-y) to RM212.3 million during the quarter under review.

Public Investment Bank Bhd (PIVB) said in a note today that its construction’s outstanding order book and unbilled property sales are estimated at RM36 billion and RM7.2 billion, respectively.

“The year-to-date project wins stand at RM14.5 billion, while unbilled property sales amount to RM7.2 billion. The group is targeting property sales of RM6 billion for FY2025,” it said.

Meanwhile, Hong Leong Investment Bank Bhd (HLIB) noted that its core profit after tax and minority interests (PATAMI) for 1H FY2025 came in at RM416.4 million, slightly below expectations, mainly due to slower-than-expected progress in local projects.

“However, construction earnings rose 17 per cent y-o-y, underpinned by a 32 per cent increase in domestic contribution,” it said.

HLIB also highlighted that the group unveiled a high-certainty project pipeline worth RM35 billion for 2025 across Malaysia, Australia and Taiwan, which could potentially lift its year-end order book to RM60 billion — significantly above its RM40 billion to RM45 billion guidance.

At 10.54 am, Gamuda’s shares rose 20 sen to RM4.21, with 9.61 million shares traded.

-- BERNAMA