IJM Corp sees challenging year as Q1 net profit dips

IJM Corp said with the potential conversion of unbilled sales of about RM2bil, the property development division is expected to maintain a satisfactory performance in the current financial year.

KUALA LUMPUR: IJM Corporation posted slightly lower net profit of RM59.42mil in the first quarter ended June 30,2019 due to net allowance of impairment of assets and foreign exchange losses and it expects a challenging year ahead.

IJM Corp, which is involved in construction, property development, plantation, infrastructure and ports, announced on Wednesday net profit fell 5.3% from RM62.76mil a year ago.