PETALING JAYA: Shares in Gamuda Bhd yesterday climbed the most in three months after the construction and engineering group reported net profit soared 93% in the second quarter ended Jan 31.The results, released after trading hours on Wednesday, came in well within the market’s expectation.Gamuda’s share price rose 24 sen, or 7.6%, to close at RM3.38 with 9.3 million shares transacted.Despite the big jump yesterday, the stock was 30% down for the year on a sharp re-rating on construction players in recent weeks.Gamuda made a net profit of RM90.1mil, or 4.5 sen per share, compared with RM46.6mil, or 2.93 sen per share, posted in the previous corresponding period.Latest analysts’ updates on the company showed that Gamuda earnings forecast is intact, with consensus estimate for the year ending July 31 (FY08) at 18 sen per share and rising to 28 sen per share in FY09. Read more
(The Star 29-3-2008)
