KUALA LUMPUR (Nov 27): IJM Corp Bhd (KL:IJM) saw an 11.4% drop in net profit for the second quarter, despite higher revenue, dragged down by its property development and port businesses.

Net profit for the three months ended Sept 30, 2025 (2QFY2026) dropped to RM65.78 million from RM74.21 million a year earlier, while revenue rose 10.4% to RM1.67 billion from RM1.52 billion, according to the group’s bourse filing on Thursday.

Its property development segment recorded lower earnings amid weaker sales and contributions from associates and joint ventures. Meanwhile, its port segment, via Kuantan Port, saw lower cargo throughput as a key customer undertook major maintenance.  

Meanwhile, the core construction business remained strong with higher revenue and profit in line with higher construction work activities.

The group declared an interim dividend of two sen per share for the quarter, to be paid on Jan 7.

For the six months ended Sept 30, 2025 (6MFY2026), IJM’s net profit was flat at RM161.39 million versus RM161.09 million in the same period a year earlier, while revenue was up 16.7% to RM3.41 billion from RM2.92 billion.

Looking forward, IJM said the strong momentum seen under its construction operations is expected to continue, fuelled by the slew of major data centre projects on hand.

The property development segment will employ product differentiation to tackle the softening condition, while the port business anticipates a softer outlook with a key customer undertaking major maintenance.

Shares in IJM ended two sen or 0.81% higher at RM2.48, valuing the group at RM9.07 billion.