Bumi Armada 3Q net profit at RM153m

Bumi Armada's Armada LNG Mediterrana 2

KUALA LUMPUR: International offshore energy facilities and services provider Bumi Armada Bhd posted net profit of RM153.37mil compared with net loss of RM502.82mil a year ago.

It said on Friday the 3Q net profit was 96.2% over 2Q's net profit of RM78.20mil, boosted by RM81.8mil of other operating income. The operating income included gain on disposal of joint ventures and property, plant and equipment including Armada Perdana. There was higher share of results from joint ventures arising from tax exemptions obtained for Armada Sterling FPSO and Armada Sterling II FPSO in 3Q.