IJM Corp profit falls to RM3.24m in FY2026 despite higher revenue growth

KUALA LUMPUR, May 28 — IJM Corporation Bhd’s net profit dipped to RM3.24 million for the financial year ended March 31, 2026 (FY2026), from RM403.37 million in the corresponding period last year.

The conglomerate said in a filing with Bursa Malaysia today that revenue rose 10 per cent to RM6.88 billion from RM6.25 billion in FY2025, mainly supported by higher contributions from its construction, manufacturing and quarrying divisions.

For the fourth quarter, IJM Corp recorded a net loss of RM173.9 million, compared with a net profit of RM128.96 million in the same quarter last year, while revenue ticked up 4.2 per cent to RM1.9 billion from RM1.8 billion previously.

The group said this was mainly due to net foreign exchange losses of RM94.7 million in 4Q FY2026 (4Q FY2025: gain of RM31.2 million) and RM197.9 million for FY2026 (FY2025: loss of RM42.1 million); the recognition of an impairment on unsold inventories of RM121.6 million, including an office building in Changchun, China, provision for maintenance (resurfacing) costs for a highway in India of RM51.0 million; and weaker performance from the property and port division.

The company has declared a single-tier second interim dividend of five sen per share and a special dividend of one sen per share for FY2026.

Both dividends will be paid on July 24, 2026, to shareholders on June 30, 2026.

Meanwhile, the company expects its construction division to deliver stronger performance in the new financial year, underpinned by a solid order book of RM14.7 billion, including outstanding orders from joint ventures and associates.

However, it said the Malaysian property market is showing early signs of softening, driven by weaker consumer sentiment.

“Nevertheless, the property division remains committed to driving sales of its existing projects by adopting a responsive market strategy and enhancing product differentiation to align with evolving buyer expectations and affordability thresholds to achieve improved performance in the new financial year. The earnings will be further enhanced by the sale of land parcels.

“The industry division is expected to continue its strong performance achieved in the past few financial years, given its solid order book in hand and the expected continued rollout of data centres, large-scale industrial buildings and infrastructure jobs,” it said.

The toll division is expected to continue providing steady revenue streams to the group via its mature concessions, while the port business expects a mixed outlook supported by the gradual resumption of business activities by a major customer, but remains cautious over the impact of global trade disruptions arising from geopolitical tensions.

Barring the uncertain macroeconomic outlook due to geopolitical tensions, the group said it is confident of delivering improved operational performance in the new financial year. — Bernama

المصدر: Malay Mail