Its chief executive officer Tan Sri Shahril Shamsuddin said it was necessary to right-size the organisation based on a focused business strategy, given the cyclical nature of the O&G industry.
PETALING JAYA: Sapura Energy Bhd
, which announced a plan to cut 20% of its workforce last week, has returned to profitability in the first quarter ended April 30.
In a filing with Bursa Malaysia yesterday, the oil and gas (O&G) service provider posted a net profit of RM14.2mil for the first quarter compared to a loss RM109.1mil a year earlier.
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