Gamuda Bhd, which saw its third quarter (Q3 FY16) net profit slip by about 5% from a year ago due to the soft property market, may see improvement in earnings for fiscal 2017 ( FY 17) from a stronger order book.
Maybank Investment Bank Research, while reiterating its top buy call on the infrastructure-property company with a target price of RM5.65, had on Thursday said it expected earnings for FY 17 to recover on stronger construction order book fuelled by upcoming infrastructure job awards.
The research house said the stellar take-up of its Singapore property is a positive surprise and would offset the slower domestic sales, it noted.
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Maybank Investment Bank Research, while reiterating its top buy call on the infrastructure-property company with a target price of RM5.65, had on Thursday said it expected earnings for FY 17 to recover on stronger construction order book fuelled by upcoming infrastructure job awards.
The research house said the stellar take-up of its Singapore property is a positive surprise and would offset the slower domestic sales, it noted.
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