Sapura Energy set for gradual recovery

Despite the uneven economic recovery due to Covid-19, MIDF Research said the improving Brent crude oil price bodes a promising rebound for the group.

KUALA LUMPUR: Sapura Energy Bhd, which posted a net loss of RM97mil for three-month ended April 30 (Q1FY22), is expected to see its earnings improve in the coming quarter supported by the positive global crude oil price outlook, RM11.8bil order book and potential contract wins.

Despite the uneven economic recovery due to Covid-19, MIDF Research said the improving Brent crude oil price bodes a promising rebound for the group.