Bumi Armada posts improved first-quarter earnings

In a filing with Bursa Malaysia, the offshore energy services provider said the improved profit was due to “lower depreciation of property, plant and equipment, tax expense and finance costs, offset by lower other operating income”.

KUALA LUMPUR: Bumi Armada Bhd recorded a net profit of RM185.76mil in the first quarter ended March 31, 2022, which is a 14.11% improvement over RM162.79mil in the previous corresponding quarter.

Revenue came in 19.9% lower to RM529.01mil as compared to RM539.7mil in the comparative quarter.