PETALING JAYA: Steel Hawk Bhd
is confident of continued growth premised on the company’s major client Petroliam Nasional Bhd’s (PETRONAS) prioritisation of digitalisation, technological innovation, and responsible resource management.
Releasing its results for the first quarter ended March 31 (1Q25) yesterday, the company saw net profit jump more than two-fold year-on-year (y-o-y) to RM8.2mil, as revenue also surged more than 2.5 times to RM52.5mil.
Steel Hawk attributed the significant improvement in y-o-y performance primarily to its engineering, procurement, construction, and commissioning segment, which recorded an increase of RM34.7mil. It added that the growth in turnover was specifically due to new work orders secured from PETRONAS from recently awarded contracts.
The revenue increase therefore has led to the jump in profits, said Steel Hawk in a filing with Bursa Malaysia.
