KUALA LUMPUR, Nov 25 — IJM Corp Bhd’s net profit for the second quarter ended September 30, 2020 (Q2 2020) rose to RM99.51 million from RM70.10 million in the same period a year ago.
However, revenue for the quarter under review declined to RM1.43 billion from RM1.57 billion previously.
In a filing with Bursa Malaysia today, IJM said with the expectations of continued favourable crude palm oil prices and stable foreign exchange environment, the group’s plantation division is optimistic of performing better for the year.
“The group’s port operations are expected to perform positively as cargo throughput remains stable despite the Covid-19 pandemic.
“Traffic volumes for the toll business have gradually recovered close to pre-pandemic levels. Nevertheless, the outlook for the toll business is dependent on the duration of the conditional movement control order imposed in the states in which we operate,” it added.
The group’s diversified portfolio is expected to provide resilience to its financial performance, and despite the constantly changing business environment, it expects performance to be satisfactory.
IJM’s core business activities encompass construction, property development, manufacturing and quarrying, infrastructure concessions, and plantations. — Bernama
