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Scomi Group 2Q profit at RM3m

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Scomi Group 2Q profit at RM3m Empty Scomi Group 2Q profit at RM3m

Post by Cals Wed 20 Nov 2013, 22:34

Scomi Group 2Q profit at RM3m
Business & Markets 2013
Written by Jeffrey Tan of theedgemalaysia.com   
Wednesday, 20 November 2013 19:26
KUALA LUMPUR (Nov 20): Scomi Group Bhd’s net profit stood at RM3 million in the second quarter ended Sept 30, 2013, while revenue registered RM385 million.

No year-on-year comparisons were provided as the group’s annual reporting date was changed to March 31 from December 31.

In a statement to Bursa Malaysia, the drilling fluids and related engineering services firm said for the half-year period, profit chalked up RM4.8 million while revenue raked in was RM762 million.

Scomi said compared to the preceding quarter (RM1.5 million), the larger profit was principally due to a lower loss recorded by its transport solution division.

The group said it remains optimistic of benefiting from the growth in oil and gas exploration and production activities, specifically in the Southeast Asia region.

This includes the anticipated increase in transportation infrastructure projects in Malaysia, Brazil and India, it added.
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