Better earnings expected for Bumi Armada on improved fundamentals

Bumi Armada reported a robust core net profit in the fourth quarter of financial year ended Dec 31,2020.

KUALA LUMPUR: With a surprisingly strong finish to 2020, Bumi Armada Bhd could potentially see better earnings this year on the back of improved fundamentals.

Bumi Armada reported a robust core net profit in the fourth quarter of financial year ended Dec 31,2020, an increase of more than 200% year-on-year (y-o-y) after stripping off exceptional items totaling RM28.2mil, which is mostly due to impairment on the offshore support vessels (OSV) and Caspian vessels, said PublicInvest Research.