The company's revenue declined by 18% y-o-y to RM86.7mil.
PETALING JAYA: Keyfield International Bhd
’s net profit for the first quarter ended March 31, 2025 (1Q25), fell by 32% year-on-year (y-o-y) to RM20.7mil.
This translates to an earnings per share of 2.57 sen. Revenue on the other hand, declined by 18% y-o-y to RM86.7mil.
In a statement, the group said traditionally, its first quarter is the weakest quarter due to the seasonal monsoon where majority of offshore activities, especially maintenance work, are not being carried out.
Keyfield said 1Q25 was relatively quiet whereby its fleet utilisation was at 44.1%, with one of the reasons being many charter projects for 2025 were delayed and had started later in the year, as customers extended charter projects to complete offshore work before the end of 2024.
The group declared an interim dividend of one sen per ordinary share, with the entitlement date on May 30, 2025, to be paid on June 13, 2025.
