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GDB Holdings posts lower net profit in Q2

Last update: 21/08/2019
KUALA LUMPUR, Aug 21 -- Construction services firm GDB Holdings Bhd posted a lower net profit of RM6.94 million in the second quarter ended June 30, 2019 from RM9.13 million in the same period a year ago.

This is despite turning in a 3.8 per cent increase in revenue to RM70.95 million versus RM68.38 million previously, driven by higher progress billings from the construction of AIRA Residence and Menara Hap Seng 3.

On its future prospects, managing director Cheah Ham Cheia said the group is fully focused on completing on-going projects and believed GDB’s tendering prospects would be boosted by the addition of Eco Geotechnics Sdn Bhd (Eco Geotechnics) to the group.

“The addition of Eco-Geotechnics’ geotechnical and foundation engineering capabilities has enabled us to become an integrated construction player capable of catering to a larger clientele base.

“With this extended capability, GDB intends to explore new opportunities within the construction and property development industry, which would require sub-structure works. We are also looking at securing jobs beyond the Klang Valley,” he added.

-- BERNAMA



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