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Gamuda Berhad (29579-T) • Annual Report 2012
The us economy, meanwhile, remained weak and
directionless, with little evidence of a sustainable
recovery. Fortunately, Asian economies continued
to remain largely resilient despite some cooling off
in the region’s two powerhouses, China and india.
our own domestic economy also weakened in late
2011, resulting in a modest growth of 5.1% for the
year compared to 7.2% in 2010. The year 2012 also
started off on a modest note with growth for the
first half year coming in at 5.1%. The government
now projects growth of between 4.5% - 5.0% for
2012 and between 4.5% - 5.5% for 2013.
Despite the weak global economy and european
financial crisis, our Group achieved its best ever
financial performance in FY2012, beating our
record-breaking performance in FY2011. Both
pre-tax and net profit levels were significantly
higher in FY2012, driven by revenue and profit
margin improvements in our construction division,
and property division. For FY2012, group pre-tax
profit rose 34% to RM728 million, whilst net profit
increased a similar 29% to RM547 million. Turnover
expanded by 15% to RM3.1 billion. The Board
declared a total of 12 sen single tier dividends, per
ordinary share compared with 3 sen less taxation
and 9 sen single tier dividends per ordinary share
in previous year.
As in previous years, earnings growth was driven
primarily by the construction and properties
divisions, whilst our concessions division continued
to generate stable earnings and strong cash flows.
overall for the year, the construction, properties
and concessions divisions contributed 31%, 39%
and 30% to group pre-tax profits respectively.
The construction division saw revenues and profits
dominated by further progress achieved on the
five-year old electrified Double Track Project (eDTP)
which ended the financial year at the 86%
completion stage. our properties division achieved
its third consecutive year of good performance with
several of our property projects chalking up record
levels of new sales. FY2012 also saw maiden
contributions from both our Vietnamese projects to
the group’s total new sales.
enGineeRinG AnD ConsTRuCTion
FY2012wasayear duringwhichour engineeringand
Construction division enjoyed a string of successes
by securing two leading roles in the Klang Valley
Mass Rapid Transit (KVMRT) project. The KVMRT
is the country’s largest ever infrastructure project –
a comprehensive metro network designed to solve
the city’s public transport problems. Comprising
three separate lines serving a 20km radius
footprint around the city centre, all three lines are
envisaged to be operational by 2020. The first of
the three lines, called the sungai Buloh - Kajang
line (sBK line) is presently under construction and
is scheduled to be fully operational by July 2017.
“The year 2012 also started off on a modest note with growth for
the first half year coming in at 5.1%.”