Friday, August 26, 2011

Bumi Armada sinks on lower 2Q earnings

KUALA LUMPUR: Bumi Armada Bhd's shares retreated on Friday, Aug 26 after its earnings fell 18% to RM60.26 million in the second quarter ended June 30, 2011 from RM73.65 million a year ago due to higher finance costs and taxation.

At 9.45am. Bumi Armada lost 15 sen to RM3.65 with 3.99 million shares done.

It said on Thursday, Aug 25 that revenue rose 40.9% to RM392.96 million from RM278.85 million.

Earnings per share were 2.64 sen compared with 3.69 sen.

For the first half, its net profit was marginally higher by 1.4% to RM142.33 million from RM140.30 million a year ago. Its revenue increased by 42% to RM769.12 million from RM541.31 million.

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