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.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Sapura Energy , net profit , orderbook

   

Next In Business News

MAHB submits revamp plan for Subang airport to govt
FBM KLCI joins regional slump amid Fed shift
SMBC Malaysia appoints Wan Fadzmi as chairman
AmBank offers RM320, 000 cash rewards
China's first REITs make strong debut
Ringgit slips as optimism over greenback grows
Foreign investors change course, turn net buyers
Bursa, key Asian markets skid on Fed’s hawkish comments
Quick take: BAuto shares up 2.7% on earnings beat
Japan’s Nikkei 225 slides 3% on concern over interest rates

Stories You'll Enjoy


Vouchers