KUALA LUMPUR: Gas Malaysia Bhd
posted a higher net profit of RM441.39 million for the financial year ended Dec 31, 2024 (FY2024), up from RM383.40 million a year ago.
The company said in a filing with Bursa Malaysia today that the surge in profit was mainly attributed to the higher volume of natural gas sold, higher average natural gas contribution margin as well as higher tolling fee, while partially offset by higher administrative expenses.
However, revenue slid to RM8.04 bilion in FY2024 from RM8.08 billion previously.
"This was due to lower average natural gas selling price, mitigated by higher volume of natural gas sold and higher tolling fee,” it said.
For the fourth quarter (4Q) of FY2024, Gas Malaysia recorded a higher net profit of RM112.71 million, compared to RM104.33 million in the same period of FY2023.
The company said it also posted a higher revenue of RM2.06 billion in 4Q FY2024, compared to RM1.80 billion previously, due to higher volume of natural gas sold, higher average natural gas contribution margin and higher tolling fee, partially offset by higher administrative expenses.
"The directors today declared a second interim dividend of 9.60 sen per share on the 1.28 billion ordinary shares, amounting to RM123.3 million, in respect of the financial year ended Dec 31, 2024, which will be paid on April 25, 2025,” it said.
On prospects, Gas Malaysia said the group remains dedicated to implementing prudent measures aimed at enhancing operational efficiency, maintaining competitiveness, and exploring opportunities for business expansion.
"With these strategies in place, the board expects the group would deliver a satisfactory performance for the financial year 2025, while maintaining a cautious outlook given potential market uncertainties,” it said. - Bernama
