Gamuda posts record FY2026 profit of RM1.05b, property sales slip 22%
Gamuda Bhd's FY2026 net profit rose 5% to RM1.05 billion, driven by stronger construction earnings, while property sales fell 22% to RM3.2 billion. The group's order book stood at RM61 billion as at July 31.
PETALING JAYA (Sept 29): Gamuda Bhd's net profit attributable to shareholders rose 5% to RM1.05 billion for the financial year ended July 31, 2026 (FY2026), as stronger domestic construction earnings offset a decline in its property division.
Revenue increased 15% to RM18.33 billion from RM15.97 billion, according to the group's unaudited results filed with Bursa Malaysia on Tuesday (Sept 29). Including its share of joint ventures' revenue, Gamuda reported revenue of RM18.61 billion.
Property sales fell 22% to RM3.2 billion, while the division's revenue, including its share of joint ventures, slipped 2% to RM3.74 billion. Property net profit declined 18% to RM310.76 million. Gamuda attributed the weaker performance to softer demand in domestic markets, while several newly acquired quick-turnaround projects and its Hanoi Parcel A development remained pending launches and authority approvals.
Malaysian property net profit fell 47% to RM76.98 million. Overseas property net profit edged up 1% to RM233.77 million, supported by sales of existing quick-turnaround projects in Vietnam.
For the fourth quarter, net profit attributable to shareholders rose 5% to RM349.7 million from RM332.15 million a year earlier, while reported revenue increased 19% to RM5.76 billion. The property division's quarterly net profit fell 41% to RM94.09 million, which Gamuda attributed to slower sales conversion across its Malaysian townships.
The construction division's full-year net profit grew 19% to RM741.57 million, led by stronger domestic contributions. Gamuda said its construction order book stood at RM61 billion as at July 31, alongside RM7.6 billion in unbilled property sales.
Looking ahead, the group expects domestic construction projects, including hyperscale data centre builds, and stronger profit recognition from property projects planned for launch in Vietnam and Singapore to support earnings. Its net gearing rose to 72% as at July 31 from 53% a year earlier, which Gamuda attributed to land acquisitions to replenish its quick-turnaround project portfolio in Vietnam and Singapore. Gamuda declared two interim dividends of five sen per share each in respect of FY2026, bringing the total to 10 sen per share.
