President and group chief executive officer Tan Sri Shahril Shamsuddin said the company aims to return to the black when the utilisation of its drilling and E&C business crosses the 70% mark.
PETALING JAYA: Sapura Energy Bhd
narrowed its net loss by over 88% in the third quarter ended Oct 31, led by higher top line and a net foreign exchange gain of RM56.16mil.
However, the integrated oil and gas (O&G) services provider continued its losing streak for the fifth consecutive quarter as it booked a net loss of RM31.09mil. For comparison, the group recorded a net loss of RM274.41mil in the previous year’s corresponding quarter.
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