Gamuda Creates History, Shares Soar!


 Gamuda Berhad created its own history by recording an all-time highest net profit of RM1.17 billion in the first quarter ending 31 October 2022 for the 2023 financial year.

This is the highest increase ever recorded by the company compared to RM152.37 million a year ago.

The main driver for this surge is a one-off cash gain of RM1 billion from the sale of four highways that were successfully completed in October 2022.

The streak saw Gamuda shares open higher at the market opening today, where as of 4.10pm, it was up 2.2% at RM3.69 with a volume of 6.49 million traded.

Looking back at the announcement made last Friday, the engineering, real estate and infrastructure company recorded a 90% jump in revenue to RM1.31 billion from RM687.93 million.

In the meantime, Gamuda projected that this year's achievements would be driven by real estate sales, an increase in the progress of Sydney Metro West work (the Western Tunnel Package and the Coffs Harbor Bypass project in Australia).

It is also working to complete the Putrajaya Line MRT project following the sale of four expressways to Amanat Lebuhraya Rakyat Bhd in October 2022.

Going forward, it said the group's resilience was underpinned by its large construction order book of nearly RM15 billion and unbilled property sales of nearly RM6 billion.

In addition to that, Gamuda declared an interim dividend of six sen per ordinary share for the financial year ending 31 July 2023.