Gadang targeting RM75mil pre-tax profit for FY15
KUALA LUMPUR (Nov 19): Construction and property developer Gadang Holdings Bhd is targeting to achieve RM75 million in pre-tax profit for financial year ending May 31, 2015 (FY15).
“We expect a better performance in FY15, and hope to have RM75 million in PBT (profit before tax) by then,” Gadang’s chief financial officer Kok Pei Ling said after the annual general meeting today.
The group’s first quarter PBT reached RM12.71 million, or equivalent to almost 17% of the aforesaid target.
She foresees that the main contribution would still be coming from the group’s construction business.
On its future prospects, Kok expects the performance for the current financial year to further improve, in tandem with its outstanding construction orderbook of some RM1.3 billion.
According to Gadang’s managing director Khew Check Kiet, the group was currently eyeing another RM5 billion contracts and potential projects for its orderbook, mainly focusing on infrastructure implementation.
These contracts includes the Kinrara-Damansara Expressway (KIDEX), Petrochemical Plant within RAPID site, Klang Valley Mass Rapid Transit (KVMRT) Line two (Sungai Buloh-Serdang-Putrajaya), and Maju Expressway Extension to KLIA (E20).