Yinson's 2Q net profit rises to RM143mil

KUALA LUMPUR: Yinson Holdings Bhd’s net profit for the second quarter ended July 31, 2022 increased to RM143 million as compared with RM126 million recorded in the same period last year.

Revenue rose to RM1.62 billion from RM1.05 billion previously.

In a filing with Bursa Malaysia today, it said the higher revenue was mainly due to the commencement of engineering, procurement, construction, installation and commissioning business activities for floating production storage and offloading (FPSO) Maria Quitéria and FPSO Atlanta and higher contribution from FPSO operations in the current financial period.

On prospects, Yinson said the company is expected to achieve satisfactory results for the financial year ending Jan 31, 2023,” it said.

"As an energy infrastructure and technology provider with a solid leadership position in sustainability, the management is confident of the group’s ability to stay resilient amidst the rising global economic challenges with its underlying risks,” it added. - Bernam

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Yinson , FPSO , profit


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