kevin sifu, we diam diam buy la if drop, buy slowly, cos dunno how strong they are and how deep they wanna press. but if they dare press deep, means they are confident to pull up again, veli powerful then, they. I just now still headache how to get back my sold Gadang. now got chansy liao
Gadang's 3Q improves on better property contribution, lower cost of sales.
KUALA LUMPUR (April 19):
Gadang Holdings Bhd posted a slight increase of 3% in net profit for the third quarter ended Feb 28, 2017 (3QFY17) to RM25.79 million, from RM25.11 million a year earlier, largely on higher contributions from the property division.
It also registered a 41% fall in cost of sales to RM77.92 million during the quarter, from RM131.8 million in the previous corresponding quarter, its Bursa Malaysia filing today showed.
However, the positive impact of these were mostly negated by the 27% fall in revenue to RM128.54 million, from RM17.92 million a year ago, on lower contribution from its construction division, which registered a topline of RM70.77 million, compared with RM122.73 million previously.
For the first nine-months of FY17, net profit grew 11% to RM70.39 million, from RM63.69 million — thanks to improved contributions from its property and utility divisions, though revenue fell 11% to RM381.02 million, from RM427.28 million, again dragged by its construction division.
Moving forward, the company said as the current financial year remains challenging with higher operating cost, the board is reviewing the operational efficiency of each business unit.
“Accordingly, the board may consider divesting the non-core business activities to realign the group’s competitive position as an integrated engineering group, moving forward,” said Gadang Holdings.
“However, the board is encouraged that based on the present level of activities, the group’s performance for this financial year will be another strong year,” the company added.
Shares in Gadang Holdings closed down two sen or 1.55% at RM1.27 today, for a market capitalisation of RM828.97 million.
The Group recorded revenue of RM128.54 million for the current quarter as compared to RM147.88 million in the preceding quarter mainly due to lower work progress from existing construction and property activities. The Group’s profit before tax increased marginally to RM36.71 million as compared to RM36.10 million in the preceding quarter.
BUSINESS PROSPECTS As the current financial year remains challenging with higher operating cost affecting the Group, the Board is reviewing the operational efficiency of each business unit to assess and determine its long-term relevance within the Group’s operations. Accordingly, the Board may consider divesting the non-core business activities to realign the Group’s competitive position as an integrated engineering group moving forward. However, the Board is encouraged that based on the present level of activities, the Group’s performance for this financial year will be another strong year arising from the following developments:- (i) Construction Division With the recent award of the contract for Package V206 of the Project Mass Rapid Transit Laluan 2: Sungai Buloh – Serdang – Putrajaya (SSP) for a contract sum of RM952.09 million, the outstanding order book grew significantly to some RM1.6 billion. (ii) Property Division Aggressive market traction to implement more affordable home sales will assist to strengthen the Property Division’s activities. The current unbilled sales registered some RM164.7 million in value. (iii) Utility Division Upon completion of fresh negotiation with the local authorities, possible higher tariff rates will have positive impact to the Utility Division. The mini hydro project of 9MW is still under construction phase and is not expected to generate revenue until FYE 2018. (iv) Plantation Division More maturing acreage will contribute to better yield and reduce the Plantation Division present loss position during this financial year. http://www.malaysiastock.biz/Company-Announcement.aspx?id=966525
Oh! may be ppl will doubt about the big contribution to be made by Capital 21, how to get 200m with unbilled sales of 165m. Capital 21 Gadang no sales one, Gadang is the land owner, and will share the profit of Capital 21. and they only can get the big chunk from it when it come to completion stage, and last check in February, Capital 21 project has completed around 80% and the mall has only left around 20% for sale. and the company that develop the capital 21 project is going to list in singapore... U think no profit can list or not? die oso want to die out a good set of results la...
I already said the quarter result will not have any big impact but you guys die die want to say it is going to be very good...See what happens. Regret to sell also too late. Keke
kakaka, ppl keep toking revenue drop, even the edge oso tok. jilakak, you think this one consumer or manufacturing sector meh? 1.6 billion order book in hand la. that's future revenue, and for property, those to be launch project like Kwasa and others all not included. change to money throw to you can throw die you
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tksw
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Posted by tksw > 2017-04-19 21:35 | Report Abuse
I like what he said, hentam kuat kuat... but hor, only if Gadang jatuh kuat kuat