Quick take: Sapura Energy climbs 3.8% on RM1bil contracts win

KUALA LUMPUR: Shares in Sapura Energy Bhd climbed over 3.8% in early trade Thursday after winning RM1bil worth of contracts and optimism of a better year ahead.

The oil and gas support services provider added 3.85%, or 0.5 sen to 13.5 sen with 62 million shares traded.

Sapura Energy announced that it has secured RM1bil worth of new contracts, including an 18-month job to supply and maintain the point-of-sales system at Petronas petrol pumps.

With a current orderbook at RM13.7bil, the group has secured about 80% of its revenue for FY22.

Meanwhile, Sapura Energy made a net loss of RM216mil in the last quarter ended Jan 31, plunging the company into its second straight annual losses.

“During the quarter, the E&C segment sustained additional costs brought about by Covid-19 and by working through the monsoon season," it said.

Revenue for the quarter rose 29% to RM1.44bil from RM1.11bil a year ago.

It recorded a loss-after-tax of RM160mil in the financial year ended Jan 31, 2021 (FY21) compared with RM4.6bil loss-after tax posted in the previous financial year.

"The board remains confident that the turnaround trends seen in the third and fourth quarter of FY21 will lead to better group performance in FY22," it said.

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Sapura Energy , net profit , orderbook


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