By MARK RAO

IJM Corp Bhd started its fiscal year with improved earnings and revenue, following stronger contributions from its construction, property and infrastructure divisions.

In an exchange filing yesterday, the conglomerate posted a 9.4% year-on-year (YoY) net profit jump to RM126.39 million for its first-quarter ended June 30 this year (1Q18), compared to the RM115.52 million reported in 1Q17.

Turnover was also higher by 12.2% YoY at RM1.47 billion, with all core businesses noting stronger revenue for the quarter.

The improved earnings had been mainly due to the growth registered by its construction, property and infrastructure segments.

The construction division, which is the core contributor to the group, raked in RM532.92 million, or 36.2%, of total turnover — attributed to major infrastructure projects and other contracts that were secured last year.

Meanwhile, the property segment gained on the RM1.3 million recognition of unrealised foreign-exchange gain from the appreciation of the British pound against the ringgit, which benefitted IJM’s UK-based projects.