Wednesday, December 14, 2011

Kencana Petroleum 1Q net profit up 60% to RM83.5m

KUALA LUMPUR (Dec 14): KENCANA PETROLEUM BHD []'s earnings rose 59.5% to RM83.54 million from'' RM52.35 million a year ago, underpinned by the full contribution from Allied Marine & Equipment Sdn Bhd.

It said on Wednesday that its revenue increased by 69% to RM569.92 million from RM336.96 million while earnings per share were 4.2 sen compared with 3.16 sen.

Kencana said the better financial performance was also due to higher progress achieved for contracts in hand, bigger order book and better management of costs.

When compared to the preceding quarter, it said pretax profit jumped 48.4% to RM108.50 million from RM73.1 million.

No comments:

Post a Comment