Kuala Lumpur: Shares of Gamuda Bhd rose in early trade today, supported by stronger financial performance in the second quarter ended January 31, 2025 (2Q FY2025), driven by robust growth in domestic construction activities. Gamuda’s core net profit grew 4.0 percent year-on-year (y-o-y) to RM212.3 million during the quarter under review.

According to BERNAMA News Agency, Public Investment Bank Bhd (PIVB) stated in a note that the company’s construction’s outstanding order book and unbilled property sales are estimated at RM36 billion and RM7.2 billion, respectively. “The year-to-date project wins stand at RM14.5 billion, while unbilled property sales amount to RM7.2 billion. The group is targeting property sales of RM6 billion for FY2025,” the note detailed.

Meanwhile, Hong Leong Investment Bank Bhd (HLIB) noted that Gamuda’s core profit after tax and minority interests (PATAMI) for 1H FY2025 reached RM416.4 million, slightly below expectations primarily due to slower-than-expected progress in local project
s. “However, construction earnings rose 17 percent year-on-year, underpinned by a 32 percent increase in domestic contribution,” HLIB reported.

HLIB also highlighted that Gamuda unveiled a high-certainty project pipeline worth RM35 billion for 2025 across Malaysia, Australia, and Taiwan, which could potentially lift its year-end order book to RM60 billion-significantly above its RM40 billion to RM45 billion guidance. At 10.54 am, Gamuda’s shares rose 20 sen to RM4.21, with 9.61 million shares traded.