KUALA LUMPUR, June 27 — Gamuda Bhd posted a lower net profit of RM175.98 million in the third quarter (Q3) ended April 30, 2019 compared with RM206.10 million in the same quarter a year ago.
In a filing with Bursa Malaysia, it said this was mainly because the group had stopped recognising its share of profits from Splash Holdings following the sale of its 40 per cent equity stake in water treatment firm Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (Splash) to Pengurusan Air Selangor Sdn Bhd for RM2.55 billion last year.
Gamuda’s revenue also fell to RM1.03 billion in Q3 from RM1.23 billion in the same quarter previously.
On current year prospects, the group anticipated this year’s overall performance to be driven by overseas property sales especially in Vietnam and the progress of the mass rapid transit (MRT) Line 2 that continues to pick up pace, as well as steady earnings contribution from the expressway division. — Bernama
