KUALA LUMPUR: IJM Corporation Bhd's net profit surged 72.3 per cent to RM431.68 million in the financial year ended March 31, 2021 (FY21) from RM250.59 million.
In a statement today, IJM said the higher net profit registered in FY21 was mainly due to higher profit contribution from the company's plantation division.
Revenue during the 12-month period decreased 14.9 per cent to RM5.62 billion from RM6.61 billion.
IJM said during the year, various movement control orders that were implemented had an adverse impact on the company's businesses.
As a result, lower operating revenues were posted for the current quarter and year at RM1.6 billion and RM5.6 billion respectively, a decrease of 21.8 per cent and 14.9 per cent compared to the preceding year's corresponding quarter and year respectively.
IJM chief executive officer and managing director Liew Hau Seng said the company's performance was affected due to numerous movement control measures imposed by the government to contain the spread of the Covid-19 virus.
"Our businesses saw varying degrees of constraints during the year while there was notably lower traffic volume at the company's toll roads during certain periods of movement restrictions," he said.
Liew said as at end-March 2021, IJM has a healthy outstanding construction order book of RM4.0 billion that comprises a good mix of private and public sector projects, providing the the company with good earnings visibility over the next few years.
"In addition, IJM has also secured two contracts in April 2021 – an RM89.8 million contract for the construction of infrastructure building and public realms works at Tun Razak Exchange (TRX), Kuala Lumpur, and another contract worth RM237.8 million for the construction of the Mezzo residential tower at The Light City, Penang.
"Both projects mark successive job wins where IJM is currently undertaking high profile construction activities – ongoing work at TRX include the recently completed HSBC Malaysia and Affin Bank new headquarters as well as TRX Residences while the Mezzo is IJM's third contract at The Light City.
"These projects allow us to demonstrate our construction capabilities as a builder of choice in the city centre as well as our ability to introduce vibrant integrated property offerings to the market," he said.
IJM has declared a single tier second interim dividend of four sen per share.
Coupled with the single tier first interim dividend of two sen per share declared in Q2 FY21, the total dividend declared for FY21 amounts to six sen per share.
In FY20, IJM declared a total dividend of three sen per share.