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KUALA LUMPUR (May 30): IJM Corp Bhd shares rose 4.98% at mid-morning today after the group reported that its net profit jumped to RM240.81 million for the fourth quarter ended March 31, 2019 (4QFY19), from RM17.86 million a year ago.
At 10.16am, IJM Corp rose 10 sen to RM2.11 with 807,300 shares traded.
The higher quarterly is due to the group's infrastructure division seeing improved contributions from local toll and port concessions as well as its Argentine investments bearing fruit. IJM Corp booked in profit of RM111.79 million in 4QFY19 from associates compared with a loss of RM25.8 million a year ago.
Quarterly revenue only grew by 3% to RM1.39 billion from RM1.36 billion a year ago.
IJM Corp declared a two sen per share second interim dividend, payable on July 19, bringing the total dividend payout to four sen, which is lower compared with six sen last year.
For the full financial year ended March 31, 2019 (FY19), its net profit grew 20.85% to RM418.92 million, from RM346.65 million a year ago, buoyed by its property and infrastructure divisions, despite revenue declining 5.2% year-on-year to RM5.66 billion, from RM5.97 billion.
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