Media Statement Gamuda Quarterly results
Gamuda posts record-high property sales on the back of stronger sales from Vietnam and Singapore
Group achieves record-high core net profit of RM818 million in FY2018
28 September 2018, PETALING JAYA – Gamuda posted a record-high property sales of RM3.6 billion for FY2018, surpassing its RM3.5 billion sales target. The property sales grew by 50% compared with last year’s sales of RM2.4 billion on the back of stronger sales from its two projects in Vietnam, Celadon City in Ho Chi Minh City and Gamuda City in Hanoi, and GEM Residences in Singapore. Overseas sales contributed 70% of overall property sales. Next year, Gamuda targets RM4 billion property sales from its local and overseas projects.
Meanwhile, Gamuda Group (including its share of joint venture companies’ revenue) achieved a recordhigh revenue of RM7.2 billion this year, an increase of 26% compared with RM5.7 billion last year.
Gamuda Group posted a lower net profit of RM514 million this year as compared with RM602 million last year due to one-off losses on disposal of Splash (RM300 million) and impairment on investment in Gamuda Water (RM4 million).
Excluding this year’s one-off losses and last year’s one-off impairment loss on investment in Smart of RM98 million, Gamuda Group achieved a record-high core net profit of RM818 million this year, an increase of 17% compared with RM701 million last year.
The increase in Gamuda Group’s full year revenue and core net profit resulted mainly from the higher property sales of its overseas projects in Vietnam and Singapore as well as work progress from its ongoing construction projects.
Fourth quarter results
Gamuda posted RM1 billion property sales for its fourth quarter ended 31 July 2018 (“4QFY18”). Sales from its overseas projects in Vietnam and Singapore contributed 70% of overall property sales.
Meanwhile, Gamuda Group (including its share of joint venture companies’ revenue) posted revenue of RM1.9 billion in 4QFY18; an increase of 13% compared with RM1.7 billion for the same quarter last year.
Gamuda Group posted a net loss of RM101 million in 4QFY18 as compared with a net profit of RM103 million for the same quarter last year due to one-off losses on disposal of Splash (RM300 million) and impairment on investment in Gamuda Water (RM4 million). Excluding this quarter’s one-off losses and last year’s one-off impairment loss on investment in Smart of RM98 million, Gamuda Group achieved a core net profit of RM203 million in 4QFY18, an increase of 1% compared with RM201 million for the same quarter last year.
The increase in Gamuda Group’s revenue and core net profit for the quarter resulted mainly from the higher property sales of its overseas projects in Vietnam and Singapore as well as the work progress from its ongoing construction projects.
About Gamuda Berhad
Established in 1976, Gamuda has grown over the years to become Malaysia’s leading infrastructure and property developer. The group has completed more than 40 large-scale civil engineering projects in Malaysia, Southeast Asia and the Middle East and is currently building the country’s largest public infrastructure project, the Klang Valley MRT, which will serve as the backbone to Malaysia’s public transportation network.
Issued by Gamuda Berhad
28 September 2018
Media Contact:
Ms Jaya Menon | Sreejaya.Menon@gamuda.com.my | 012 393 3551
Ms Ong Jee Lian | ong.jeelian@gamuda.com.my | 012 615 7550