KUALA LUMPUR: Gamuda Bhd recorded a net profit of RM109.28mil for the first quarter of its financial year ended Oct 31, 2020, 37% lower compared to RM173.62mil in the previous corresponding quarter.The group posted revenue of RM1.5bil, which was 16% lower than RM1.8bil recorded in the the same quarter a year-ago.Earnings per share for the quarter stood at 4.35 sen."The group’s financial performance for the first three months of this year (Aug – Oct 2020) continues to be resilient despite the re-imposition of CMCO in most parts of Malaysia at the tail-end of this quarter."Following the easing of movement restrictions in early May 2020, works at all construction and property projects gradually picked up pace while traffic plying the expressways were returning to pre-movement restrictions level," it said in a filing with Bursa Malaysia.Gamuda anticipates that the performance of its current financial year will be drive by overseas property sales in Vietnam and Singapore and the continued progress of the MRT Putrajaya Line.It has a construction order book of RM6.1bil and unbilled property sales of RM3.2bil, which it said will see it through the next two years.The group has a balance sheet with a gearing of 0.3 times.
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