PETALING JAYA: Marine & General Bhd
(M&G) maintains a neutral outlook as it remains mindful of global economic uncertainties and geopolitical risks, while its operations remain unaffected due to its South-East Asia focus.
The group said recent geopolitical tensions have led to volatility in global energy markets, but there has been no direct operational impact to date.
In the third quarter ended Jan 31, M&G’s net profit rose 42.6% to RM3.6mil, lifting its nine-month earnings 12.7% higher to RM31.1mil.
Revenue increased 7.3% to RM79.6mil for the quarter, bringing year-to-date revenue to RM277.2mil.
M&G said for the cumulative nine-month period, fleet utilisation for its upstream and downstream divisions stood at 75% and 82% respectively, compared with 72% and 80% in the corresponding period last year.
