Sapura Energy reported its Q3 results, with group revenue of RM1.1 billion in the current quarter which was a decrease of RM171.2 million compared to RM1.27 billion recorded in the corresponding quarter of the preceding year..
The group attributed this due to the E&C business segment which saw a lower percentage of completion of projects being executed. The group’s profit before taxation and impairment of RM313.0 million, higher by RM115.6 million compared to a profit before taxation and impairment of RM197.4 million in the corresponding period from higher share of profits in associates and joint ventures and increase foreign exchange gain during the current period, offset with higher finance cost incurred.
Profits after taxation was RM30million compared to RM10 million recorded in the previous year’s quarter.
In the current period, the Group has made provision for impairment on property, plant and equipment of RM12.0
million (Q3 FY2023: Nil).
The Group’s revenue for the period has decreased by 4.1% or RM135.3 million which is lower than the corresponding period of the preceding year of RM3.33 billion, as a result of a lower revenue posted by the E&C business segment due to lower percentage of completion in the current period quarter, lower by RM12.4 million compared to RM75.4 million in Q3 FY2023.
The Group recorded a profit before taxation and impairment of RM313.0 million, higher by RM115.6 million
compared to a profit before taxation and impairment of RM197.4 million in the corresponding period from higher
share of profits in associates and joint ventures and increase foreign exchange gain during the current period,
offset with higher finance cost incurred
PAT for the period surged to RM219 million compared to RM99 million in 2022.
