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
posted its first net profit in six quarters thanks to a one-off gain from the disposal of a subsidiary that masked the tough operating condition faced by the company.
Net profit in the fourth quarter ended Jan 31 (4Q19) stood at RM500.4mil, boosted by a massive RM2.73bil gain from the sale of 50% stake in its exploration and production (E&P) business, through the strategic partnership with OMV.
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