KUALA LUMPUR: SAPURACREST PETROLEUM BHD [] posted profit attributable to the parent of RM54.84 million for the third quarter ended Oct 31, up a marginal 2.6% from RM53.44 million ago.
It said on Friday, Dec 10 the lower earnings were mainly due to a weaker US dollar which impacted its drilling division's financial performance and the lower activities in marine services division but mitigated by the higher activities in the installation of pipeline and facilities (IPF) division.
SapuraCrest said pre-tax profit declined 13.4% to RM100.07 million from RM115.55 million while revenue was marginally lower at RM1.015 billion compared with RM1.024 billion. Earnings per share were 4.3 sen verus 4.22 sen.
When compared to the second quarter's revenue of RM898.10 million, the increase in the third quarter was boosted by the IPF division. Its profit before tax fell11.2% to RM100.10 million from RM112.8 million mainly due to lower contribution from drilling and lower activities in the marine services division.
The company reported higher inventories of RM72.86 million at Oct 31 compared with RM54.27 million as at Jan 31 this year. There was an increase in trade and other receivables of RM1.868 billion crom RM1.163 billion.
For the financial year ending Jan 31, 2011, it said expected the group to achieve satisfactory results barring unforeseen circumstances.
It said on Friday, Dec 10 the lower earnings were mainly due to a weaker US dollar which impacted its drilling division's financial performance and the lower activities in marine services division but mitigated by the higher activities in the installation of pipeline and facilities (IPF) division.
SapuraCrest said pre-tax profit declined 13.4% to RM100.07 million from RM115.55 million while revenue was marginally lower at RM1.015 billion compared with RM1.024 billion. Earnings per share were 4.3 sen verus 4.22 sen.
When compared to the second quarter's revenue of RM898.10 million, the increase in the third quarter was boosted by the IPF division. Its profit before tax fell11.2% to RM100.10 million from RM112.8 million mainly due to lower contribution from drilling and lower activities in the marine services division.
The company reported higher inventories of RM72.86 million at Oct 31 compared with RM54.27 million as at Jan 31 this year. There was an increase in trade and other receivables of RM1.868 billion crom RM1.163 billion.
For the financial year ending Jan 31, 2011, it said expected the group to achieve satisfactory results barring unforeseen circumstances.
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