Icon registered a full year revenue of RM301 million. This figure breached the RM300 million mark for the second time. The first time it registered such level was in FY2014, that was at the height of crude oil prices. While Profit After Taxation came to RM32.0 million.
The company’s final quarter of FY2021 registered a total Revenue of RM80.9 million and Profit After Taxation of RM7.5 million in Q4FY2021.
The strong growth of 42% year-on-year is undergirded by 2 main contributors: 1) Its presence in Brunei by securing three (3) long term contracts for its Accommodation Work Boats with its Brunei portfolio contributing a third (30%) of ICON’s Revenue; 2) The completion of acquisition of the drilling business and operationalisation of this segment, contributing a third (30%) of ICON’s revenue and RM6.5 million to ICON’s overall profit for the year.
“The new contract we recently secured for our drilling business as announced on 11 February 2022 is another testament to our ability to meet our client’s expectations as it continues to add positively to the coffers of the Company. With the above new contract, ICON now has a combined Order Book and Tender Book of RM2.1 billion. With a diverse portfolio of assets, we are ready to take full advantage of the current positive industry outlook on the back of rising oil prices and increased industry activities to ensure sustainable long-term value for shareholders,” Dato’ Sri Hadian Hashim, Managing Director of ICON said.
The Company will focus on sustainability by continuously weighing the impact of several environmental, social and governance (ESG) topics in FY2022, primarily when it comes to addressing climate change-related matters, supply chain integrity, fair labour standards and Health, Safety, Security and Environment (HSSE) excellence in its business models and strategies.
