Bumi Armada reports Q2 net profit of RM91.93m
KUALA LUMPUR, Aug 16 – Malaysia’s Bumi Armada Bhd, a company controlled by the country’s second-richest man Ananda Krishnan, said in a stock exchange filing today that for Q2 ended June 30 net profit rose 52 per cent from a year earlier to RM91.93 million.
It missed the RM140.38 million profit estimate of analysts tracked by Thomson Reuters I/B/E/S.
Revenue fell 2 per cent to RM384.6 million.
Bumi Armada chief executive officer Hassan Barma said: “Going forward, demand for floating production, storage and offloading units (FPSOs) remain strong in our key markets. We are on track to achieving our aim to become the fourth largest FPSO owner and operator globally”.
The company will continue to bid for projects in Asia, West Africa and Latin America, he added.
Its shares climbed 0.54 per cent to RM3.75 a share today, compared with the Malaysian benchmark stock index’s 0.22 per cent drop. – Reuters