Gadang sinks into the red in 3Q as construction and property divisions record lower revenue

KUALA LUMPUR (April 17): Gadang Holdings Bhd (KL:GADANG) has posted a net loss of RM10.38 million for its third financial quarter ended Feb 28, 2026 (3QFY2026), a reversal from a net profit of RM9.08 million a year earlier, after it was hit by additional costs.

The group said the loss was also due to provisions made for foreseeable losses and liquidated ascertained damages in the construction division.

Quarterly revenue declined 33% to RM170.42 million from RM252.58 million previously amid lower work progress in certain construction projects and reduced progress in ongoing development projects.

Gadang said the construction division saw a 38% year-on-year decrease in revenue, while the property division's revenue declined 15%.

No dividend was declared for the quarter.

"The group will continue to closely monitor its operating environment through regular assessments to ensure prudent financial management and operational efficiency, particularly in anticipation of increasing compliance requirements and expected revision and expansion of the tax regime," Gadang said in its bourse filing on Thursday.

"The group remains vigilant amid on-going geopolitical uncertainties and global trade tensions," it added.

Gadang’s share price closed up one sen or 2.94% at 17.5 sen, valuing the group at RM140.2 million.

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