By Gho Chee Yuan
KUALA LUMPUR (Jun 23) -- Malaysian construction company Gamuda said Friday its net profit for the fiscal third quarter grew 12% on year mainly due to higher work progress of underground and elevated works for the Mass Rapid Transit Line 2.
Net profit for the three months ended Apr. 30 stood at 170.93 million ringgit ($39.85 million) versus 152.69 million ringgit a year ago, the company said in an exchange filing. Quarterly revenue gained 79.6% to 839.49 million ringgit from 467.29 million ringgit a year earlier.
Gamuda said it anticipates a good performance this year from the steady earnings of expressway concessions division and ramping up of works for Mass Rapid Transit Line 2.
"The property division's performance is expected to be stronger in the next few quarters due to the launch of several new projects in Malaysia and overseas," it added.
- By Gho Chee Yuan; Terence.Gho@nikkeinewsrise.com; 60320267363
- Edited by Abhijit Basu
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