KUALA LUMPUR: Yinson Holdings Bhd
said its financial performance remains robust as it enters the fourth quarter of its financial year, and following the increasing demand and successful delivery of its project assets.
However, the energy infrastructure and technology group said it remains vigilant due to potential market reactions to restrictive monetary policies.
In the third quarter of its financial year, Yinson said net profit was RM248mil, a leap higher from RM155mil in the same quarter in 2022, representing an earnings per share of 7.3 sen against 4.2 sen previously.
Revenue during the quarter was RM2.81bil against RM1.74bil in the comparative 2022 quarter.
Cumulatively, the group's net profit over three quarters was RM686mil as compared to RM418mil in 9MFY23, while revenue was RM8.94bil, double the revenue of RM4.36bil in the 2022 period.
According to Yinson, the improved revenue in 9MFY23 was mainly owing to higher contribution from EPCIC business activities, based on the progress of construction.
The group's earnings before interest, tax, depreciation and amortisation (Ebitda) for the year-to-date period was 45% higher year-on-year at RM1.98bil due to the increase in EPCIC revenue and fresh contribution from FPSO Anna Nery's operations since first oil was achieved on May 7, 2023.
