GE15 NEWS   Kudat Independent MP backs unity government | Hamas leader congratulates Anwar on appointment as PM | GRS will abide by Agong 's decision on formation of unity govt - Hajiji | Zahid, Wan Azizah, Loke win while Saifuddin, Rezal Merican lose | 
BUSINESS

IJM Corp Q2 net profit declines to RM27.03 mln

25/11/2022 07:33 PM

KUALA LUMPUR, Nov 25 (Bernama) -- IJM Corporation Bhd’s (IJM Corp) net profit slumped to RM27.03 million in the second quarter ended Sept 30, 2022 (Q2) from RM629.30 million in the same period a year ago due to lower revenue in the construction segment.

Revenue rose 22.6 per cent to RM1.07 billion from RM874.25 million previously following the full resumption of business activities, it said in a filing to Bursa Malaysia. 

 IJM Corp said the construction segment’s revenue declined by 22.6 per cent in Q2 compared to the same quarter a year ago, mainly due to lower construction activities as a result of certain projects being completed in the previous financial year while new projects secured are presently in their initial stages.

The company recorded higher revenue in the property development, manufacturing and quarrying as well as infrastructure segments.

For property development, revenue in Q2 surged by 103.1 per cent attributable to higher work progress at its ongoing projects, while revenue for the manufacturing and quarrying segment in the quarter reviewed rose 23.3 per cent mainly due to higher deliveries of piles, quarry products and ready-mixed concrete.

Meanwhile, the infrastructure segment’s revenue climbed by 39.6 per cent in Q2, driven by higher toll revenue recorded both locally and overseas.

IJM Corp said the group is expected to deliver a satisfactory performance for the current financial year ending March 31, 2023 (FY2023).

“The performance of the construction division will be underpinned by its outstanding order book of RM4.81 billion which includes RM1.4 billion secured during this financial year-to-date.

With its wide array of highly sought-after products in strategic locations and unbilled sales of about RM3.1 billion, the property division is expected to deliver a satisfactory performance for FY2023.

The performance of the port operations will be dependent on the global trade recovery, it added.

-- BERNAMA


Bernama provides the latest authentic and comprehensive news and information to media agencies and the public. The news and information is disseminated via the website www.bernama.com; BERNAMA TV broadcasts on the Astro 502, unifi TV 631 and MYTV 121 IFLIX channels as well as BERNAMA Radio on the FM93.9 frequency in the Klang Valley, FM107.5 in Johor, FM107.9 in Kota Kinabalu and FM100.9 in Kuching.

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2022 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy