KUALA LUMPUR: Hibiscus Petroleum Bhd
recorded a net profit of RM83.26mil in the second quarter ended Dec 31, 2024 (2QFY25), down from RM102.34mil in the previous corresponding quarter.
Earnings per share in 2QFY25 slipped to 10.8 sen from 12.72 sen in the comparative quarter.
The group reported revenue of RM653.18mil, up from RM627.55mil in the year-ago quarter.
For the six-month period, Hibiscus Petroleum registered a net profit of RM158.86mil compared to RM256.63mil in 6MFY24, while revenue dropped to RM1.13bil from RM1.37bil in the previous corresponding period.
The board of directors declared a second interim dividend of three sen per share, with ex date on March 21, 2025, and payment on April 21, 2025.
In a statement, the group said it sold a total of 2.6 MMboe of oil, condensate and gas and achieved a record high average production of 28,138 boe/day in 2QFY25.
Managing director Kenneth Pereira said 2QFY25 marked the first time the group included operational and financial contributions from its recently acquired Brunei subsidiary, which drove the record-high net production.
"Our full-year oil, condensate and gas sales volumes are expected to reach approximately 9.1 MMboe, 17% higher than FY24.
"With our production enhancement projects coming online this calendar year, we are well on track to achieving our 2026 Mission of producing between 35,000 and 50,000 boe/day," he said.
