IJM Corp Bhd’s net profit for the fourth quarter ended March 31, 2025, fell 57.8% year-on-year (y-o-y) to RM128.95 million, dragged by one-off impairment charges and the absence of last year’s non-recurring gains.
This included a RM54 million expected credit loss linked to the West Coast Expressway (WCE), alongside the absence of a RM67 million fair value gain and a RM78.6 million impairment reversal.
Despite the earnings decline, quarterly revenue rose 1.8% y-o-y to RM1.79 billion, supported by stronger construction activity.
IJM declared a final single-tier dividend of 5 sen and a special dividend of 1 sen per share, bringing the total FY25 payout to 8 sen. Payment is scheduled for July 18.
For FY25, net profit dropped 32.8% to RM403.38 million, although revenue rose 5.6% to RM6.25 billion.
Pre-tax profit fell 18% to RM791.06 million, due to forex and warrant-related losses.
Excluding these items, core pre-tax profit improved 15.9% to RM913.7 million, underscoring resilient performance in key divisions.
The construction segment led with a 207.3% jump in pre-tax profit to RM113.13 million, supported by a 53.2% revenue increase.
The manufacturing and quarrying arm posted a record pre-tax profit of RM190.73 million, driven by operational efficiencies.
Meanwhile, the property division saw lower revenue due to delayed launches, though profitability was supported by cost savings. — TMR
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The post IJM Corp’s 4Q profit slumps 58% on WCE impairment and one-off losses appeared first on The Malaysian Reserve.
