IJM Corporation released its financial earnings recording an operating revenue and profit after tax of RM2.29 billion and RM142 million respectively for 1Q FY2027, an increase of 32.2% and 32% respectively compared to 1Q FY2026 driven primarily by the Construction and Manufacturing and Quarrying divisions.
The construction sector revenue and pre-tax profit for 1Q FY2027 increased by 36.2% and 112.0% respectively compared to 1Q FY2026, primarily driven by higher construction work activities during the period in tandem with the higher order book. Higher share of profit in joint ventures and foreign exchange gains also contributed to the division’s improved earnings in 1Q FY2027.
The property segment revenue increased by 38.5% compared to 1Q FY2026, mainly due to the completion of the sale of a parcel of land in MCKIP. The division recorded pre-tax profit of RM10.4 million for 1Q FY2027 compared to a pre-tax profit of RM27.2 million for 1Q FY2026. The decrease was mainly attributable to lower unrealised foreign exchange gain of RM13.3 million in 1Q FY2027 (1Q FY2026: unrealised gain of RM22.3 million); and lower profit contribution from associates and joint ventures.
Manufacturing and quarrying saw revenue and pre-tax profit increase by 42.3% and 13.7% respectively compared to 1Q FY2026, principally due to higher deliveries of piles and ready-mixed concrete.
While infrastructure unit saw toll Revenue for 1Q FY2027 decreased by 11.3% compared to 1Q FY2026, mainly due to the absence of toll compensation revenue following the completion of the NPE toll restructuring which resulted in the extension of toll concession period. The revenue was further affected by the unfavourable traffic mix and a weaker Rupee at its overseas tollways.
The Division reported a pre-tax profit of RM31.0 million for 1Q FY2027, an increase of 47.5% compared to 1Q FY2026, mainly due to lower amortisation cost and finance cost as well as lower foreign exchange losses.
Port revenue and pre-tax profit for 1Q FY2027 decreased by 7.2% and 13.6% respectively compared to 1Q FY2026 due to lower cargo throughput as the restoration of production capacity of a key customer post major maintenance is taking time.
