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NewsScomi Group 1Q net profit at RM1.5m on RM377m revenue
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Scomi Group 1Q net profit at RM1.5m on RM377m revenue
by Cals Fri 23 Aug 2013, 19:04
Scomi Group 1Q net profit at RM1.5m on RM377m revenue
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Friday, 23 August 2013 18:52
KUALA LUMPUR (August 23): SCOMI GROUP BHD [] reported a net profit of RM1.48 million in the first quarter ended June 30, 2013 (1QFY14) on revenue of RM377.49 million, the firm told Bursa Malaysia.
As Scomi Group and its subsidiaries which undertake oil and gas support services, and CONSTRUCTION [] of transport infrastructure have changed their financial year end to March 31 from December 31, there are no comparative figures from a year earlier.
Scomi Group's 72%-owned subsidiary SCOMI ENGINEERING BHD [] posted a net loss of RM16.48 million on revenue of RM56.62 million.
However another subsidiary Scomi Energy Services Bhd reported a net profit of RM23.52 million on revenue of RM320.87 million. Scomi Group owns 66% of Scomi Energy.
Looking ahead, Scomi Group said it "remains optimistic" of benefiting from the growth in oil & gas exploration and production specifically in the South East Asia region.
The firm is also eyeing the anticipated increase in transportation infrastructure projects in Malaysia, Brazil and India.
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Friday, 23 August 2013 18:52
KUALA LUMPUR (August 23): SCOMI GROUP BHD [] reported a net profit of RM1.48 million in the first quarter ended June 30, 2013 (1QFY14) on revenue of RM377.49 million, the firm told Bursa Malaysia.
As Scomi Group and its subsidiaries which undertake oil and gas support services, and CONSTRUCTION [] of transport infrastructure have changed their financial year end to March 31 from December 31, there are no comparative figures from a year earlier.
Scomi Group's 72%-owned subsidiary SCOMI ENGINEERING BHD [] posted a net loss of RM16.48 million on revenue of RM56.62 million.
However another subsidiary Scomi Energy Services Bhd reported a net profit of RM23.52 million on revenue of RM320.87 million. Scomi Group owns 66% of Scomi Energy.
Looking ahead, Scomi Group said it "remains optimistic" of benefiting from the growth in oil & gas exploration and production specifically in the South East Asia region.
The firm is also eyeing the anticipated increase in transportation infrastructure projects in Malaysia, Brazil and India.
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