PETALING JAYA: GDB Holdings Bhd posted a 54% year-on-year jump in net profit to RM8.8mil for the first quarter ended March 31,2021 (Q1) while revenue was 11.23% higher at RM111.1mil, mainly due to higher execution of works for certain projects and contributions from the newly-secured 8 Conlay (pic) project.
The construction group also noted that the same quarter last year saw lower revenue, as no construction activities were allowed under a movement control order which had started from March 18.
As at end-March 2021, the group’s outstanding order book was RM1.94bil, thus providing earnings visibility until Q3 of financial year 2023.
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