KUALA LUMPUR, Nov 5 — Scomi Group Bhd recorded a net profit of RM23 million for its third quarter ended Sept 30, 2009, 19 per cent higher compared to the same period last year.
Revenue for the quarter was RM424.1 million.
Scomi’s activities cover oilfield services, public transport and marine services.
Its group chief executive officer, Shah Hakim Zain said the company’s oilfield services (OFS) division remained the largest revenue earner, contributing 73 per cent or RM310.0 million to total revenue.
“Of this, drilling waste management (DWM) and drilling fluids (DF) sales contributed 50 per cent and 46 per cent respectively to OFS revenue,” he said in a statement here today.
He said the public transportation division under Scomi Engineering Bhd poised to be the driver of growth for the company, generated higher revenue of 33 per cent as compared to the corresponding quarter in 2008.
Meanwhile, net profit from the marine services rose 25 per cent to RM25.5 million as compared to RM20.4 million recorded the same quarter last year.
“Its coal business alone contributed 71 per cent of Scomi marine’s revenue. Further contributing factors were lower bunker and docking costs,” he explained.
“Our new business division, Scomi International will leverage on Scomi’s global presence in 68 locations across 33 countries to drive the company’s globalisation efforts to the next phase whilst pursue growth opportunities in emerging markets of Brazil, China, India, the Gulf States and Indonesia,” he emphasised. — Bernama
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