Gamuda FY17 pre-tax profit increases to RM826 million

Gamuda Bhd's pre-tax profit for financial year ended July 31, 2017 (FY17) rose to RM826 million from RM780 million a year ago.

Revenue increased to RM3.2 billion from RM2.1 billion, resulting mainly from higher work progress of the group's various construction projects and better property sales, it said in a filing to Bursa Malaysia today.

Gamuda said it anticipated better performance next year as the Klang Valley MRT Line 2's progress picked up pace and contributions from steady earnings of the expressway division.

"The property division's performance is expected to be stronger next year due to the launches of several new projects in Malaysia and overseas," it said. -- Bernama