Higher operating expenses a damper for Sapura Energy

Quick Summary:

Sapura Energy Bhd’s net profit for the first quarter ended April 30, 2024 (1Q25) tumbled by 44% year-on-year (y-o-y) to RM82mil from RM146.1mil in 1Q24.

In terms of pre-tax profit, this segment turned profitable at RM31.7mil mainly due to settlement of claims and reversal of impairment.

Sapura Energy’s revenue for its operations and maintenance (O&M) segment stood at RM143.6mil or 0.6% lower y-o-y.

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Article Details

Category: EconomyBusiness

Markets: Malaysia

Topics: Orderbook Turnaroundplan /Business/Business News OMimprove Cashflowstrain Corporate News SapuraEnergy Q1profitdrop ESGfocus

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-28 @ 00:00:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 364 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 21404212

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Official Website: thestar.com.my

Year Established: 1971

Headquarters: Malaysia

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