Strong showing by Bumi Armada in FY21

Bumi Armada said the stellar performance was its highest full-year net profit since its listing on the Main Market of Bursa Malaysia a decade ago.

KUALA LUMPUR: Bumi Armada Bhd net profit soared to RM574.07mil in the financial year ended Dec 31, 2021 (FY21) from RM125.57mil in FY20.

This was achieved on improved operating income, a higher share of results from joint ventures and associates, reduced impairment losses on vessels and lower finance costs.