KUALA LUMPUR, March 24 (Bernama) — SapuraKencana Petroleum Bhd’s pre-tax profit for the financial year ended Jan 31, 2015, increased to RM1.62 billion as compared to the RM1.21 billion recorded in the previous year.
Revenue rose to RM9.94 billion from RM8.38 billion, the company said in a filing to Bursa Malaysia Tuesday.
The better result was primarily due to inclusion of its wholly-owned subsidiary, SapuraKencana Energy Inc’s (SKEI) business, subsequent to completion of its acquisition on Feb 11, 2014.
For the fourth quarter review, the group recorded a lower pre-tax profit of RM39.28 million as compared to RM274.17 million recorded in the same quarter of 2014.
This was on the back of better revenue of RM2.39 billion as compared to RM1.88 billion previously.
The higher revenue was primarily attributable to higher revenue from the drilling and energy services (DES) business segment due to inclusion of revenue from SKEI’s business, combined with higher revenue from fabrication, hook-up and commissioning segment from its on-going projects.
President and group Chief Executive Officer Tan Sri Shahril Shamsuddin said the group expected the market to remain challenging moving forward due to volatility in oil prices.