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.

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

However, revenue slipped to RM2.16bil versus RM2.23bil the year before while basic earnings per share (EPS) rose to 9.74 sen compared with 2.14 sen previously.

For the fourth quarter, it registered a lower net profit of RM118mil against RM144.14mil while revenue dropped to RM513.05mil from RM592.15mil.

EPS fell to two sen versus 2.45 sen previously. There were no dividends paid in FY21. — Bernama