Gamuda's Strong Order Book Likely to Support Earnings
Dow Jones
Yesterday
0215 GMT - Gamuda's earnings outlook could remain positive, supported by a strong construction order book and healthy property sales, TA Securities analyst Ng Hong Tong says in a note. Earnings growth is expected to strengthen from FY2027 and accelerate in FY2028 as major projects progress and contribute more revenue, he reckons. Gamuda secured 12.5 billion ringgit in new contracts in FY2027 to date, with 61.2 billion ringgit of outstanding construction jobs providing earnings visibility, he notes. Its 9.7 billion ringgit property launch pipeline should also support FY2027 sales, he adds. TA Securities raises Gamuda's target price to 5.65 ringgit from 5.42 ringgit, while maintaining a buy rating. Shares are 2.0% higher at 5.08 ringgit.
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