KUALA LUMPUR: IJM Corp Bhd
’s net profit jumped 83.2% to RM794.89mil in the total monetary 12 months ended March 31 (FY22) from RM433.88mil a 12 months earlier, primarily due to the achieve from the divestment of its plantation enterprise.
The development group posted a decrease income of RM4.4bil towards RM4.69bil final 12 months.
In the fourth quarter ended March 31 (4Q22), IJM posted a net profit of RM1.47mil on income of RM1.23bil.
During the quarter, the group declared a single tier second interim dividend of 4 sen per share.
Coupled with the one tier first interim dividend and a particular dividend of two sen and 15 sen, respectively, per share declared in 2Q22, the entire dividend declared for FY22 quantities to 21 sen per share. FY2021 whole dividend declared was 6 sen per share.
CEO and managing director Liew Hau Seng mentioned regardless of the Covid-19 pandemic, the group managed to safe RM1.7bil new development contracts, primarily from the non-public sector.
“At end-March 2022, we had a healthy outstanding construction order book of RM4.3bil, providing the group with good earnings visibility over the next few years.
“Furthermore, we registered property sales of RM400mil in the final quarter on the back of encouraging take-up of mid-range properties, taking our full year sales to a record RM2.5bil.
“Notably, the group also continued to pare down its completed property inventory to RM833.9mil at end-March 2022 from RM1.15bil a year ago,” he mentioned.
For the quarter, IJM mentioned its development division reported income of RM377.6milo and noticed increased pretax profit (PBT) at RM48.6mil in contrast to the corresponding quarter final 12 months primarily due to the finalisation of accounts of sure three way partnership tasks.
The property division reported income of RM396.7mil in 4Q22 whereas PBT stood at RM20mil.
The trade division recorded income of RM229.7mil in 4Q22 whereas PBT decreased 56.6% to RM25.2mil, primarily due to beneficial properties of RM78.6mil arising from the disposal of an abroad subsidiary and sure property, plant and gear in FY21. Excluding these beneficial properties from the disposals in FY21, the pre-tax profit from enterprise operations for FY22 improved considerably by 759.6%.
Revenue of the group’s infrastructure division for the present quarter elevated by 28.8% to RM228.4mil because the toll and port operations picked up because the lifting of the motion restrictions.
However, a pre-tax lack of RM28mil was recorded in 4Q22, primarily due to the one-off impairment of RM77mil in respect of its funding in toll concession belongings, increased main upkeep value and better overseas trade loss recorded in 4Q22 of RM9.4mil.
