PETALING JAYA: Keyfield International Bhd
’s revenue slumped by nearly 46% in the first quarter ended March 31, 2026 (1Q26), dragged down by lower revenue contributions from its own-vessel chartering and catering businesses.
A key reason for the weaker topline was the lower 442 chartered days in 1Q26, comprising vessels deployed locally, in the Middle East and in Thailand compared to 479 chartered days in 1Q25.
“The lower utilisation rate is attributable to the majority of our locally-deployed vessels, especially accommodation work boats, being off-hired in 1Q26 and only commencing their charters later in the year in the April to May window, in line with customers’ vessel scheduling requirements,” Keyfield told the stock exchange.
In 1Q26, revenue fell to RM47.2mil from RM86.7mil. However, net profit nearly tripled to RM56.1mil from RM20.7mil in 1Q26. This lifted earnings per share to 6.94 sen.
Keyfield expects overseas revenue to grow steadily over the coming quarters.
