KUALA LUMPUR: GAMUDA BHD []'s earnings surged 77% to RM76.61 million in the fourth quarter ended July 31, 2010 from RM43.29 million a year ago, due to higher contributions from all divisions and expects to perform better in the next financial year.

It said on Tuesday, Sept 28 revenue however declined 24% to RM714.78 million from RM942.24 million a year ago. Earnings per share were 3.79 sen versus 2.16 sen.

For the financial year ended July 31, 2010, earnings rose to RM280.69 million from RM193.69 million. Revenue was lower at RM2.45 billion compared with RM2.73 billion in FY09.

"The increases in profit before tax for the current quarter and current year are due to higher contributions from all divisions," it said.

For the current quarter under review, the group's profit before tax of RM105.1 million was higher than the immediate preceding quarter's profit before tax of RM91.3 million.

"With the existing CONSTRUCTION [] projects progressing on schedule and the strong property sales recorded by the property division, the group is expected to perform better in the next financial year," it said.

On the electrified double track project, Gamuda said work progress was expected to accelerate in the next financial year.

On the new Doha International Airport project in Qatar, it said the project was progressing on schedule with 88% of the works completed.

"Collections from the Qatari Government continue to be on time. The project is scheduled for completion in the next financial year," it said.

On the Yenso Park and sewage treatment plant projects in Vietnam, Gamuda said work progress was on track and the projects were expected to be substantially completed in the next financial year.

"The group's property division continues to benefit from the improved market sentiments due to the strategic locations of our land banks and the higher demand for the products that were launched recently. The property development products in Hanoi (Yenso) and Ho Chi Minh City (Tan Thang) are expected to be launched in the next financial year," it said.