MIDF Research expects IJM Corp Bhd to post 9.7 per cent revenue growth year-on-year for the financial year 2010 on the back of strong billings on RM4.8 billion order book.
" We estimate the pre-tax profit margin in the 2010 financial year to be maintained at 11.5 per cent as cost pressure stabilises," it said in its research note today.
High material cost like steel, which peaked at RM4,000 a tonne, has since softened to around RM2,000 a tonne in the third quarter this year, which translated into healthier margins for construction players.
" We expect IJM Corp's financial year 2010 net profit to be at RM431.3 million, an improvement of 7.3 per cent year-on-year," MIDF Research said.
It said a stronger 2010 second half financial year is expected as IJM's RM4.8 billion order book will be enhanced by more projects announced under the second stimulus package. - Bernama
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment