KUALA LUMPUR: Elevated commodity prices caused by the current macro environment have helped to bolster Hibiscus Petroleum Bhd
's financial performance in 2026, said managing director Datuk Kenneth Pereira.
"Revenue and earnings before interest, tax, depreciation and amoritsation (Ebitda) exceeded the RM2bil and RM1bil marks for the fourth and fifth consecutive years, respectively," he said in a statement announcing the group's results.
In the fourth quarter ended June 30, 2026 (4QFY26), Hibiscus Petroleum recorded a net profit of RM190.72mil, representing a leap higher than RM74.61mil in the year-ago quarter.
The group reported quarterly revenue of RM846.46mil as compared to RM629.51mil in the previous corresponding quarter.
Over the full financial year, the group registered a net profit of RM361.27mil, more than three times the earnings of RM117.5mil recorded in the previous year. Revenue was slightly higher at RM2.34bil in FY26 against RM2.33bil in FY25.
According to Pereira, the group is advancing towards its 2026 Mission net production target of 35 kboe a day by end-2026. This is supported by the Brunei LPC project, which drove production growth of more than 50% quarter-on-quarter, as well as first oil from Teal West in the UK in early-July 2026.
He said strong oil prices and favourable oil premiums are expected to support continued earnings and cash flow momentum into FY27. He guided FY27 sales volumes to be between 10.7 and 11.2 MMboe, representing growth of at least 15% from FY26.
"Looking ahead, we continue to engage with potential Strategic Investors with the aim of securing an optimum commercial proposal for shareholders and supporting the delivery of our 2030 Mission," he said.
The group declared a fourth interim dividend of two sen per share, and is proposing a final dividend of one sen per share subject to shareholders' approval at the upcoming annual general meeting.
Depending on oil price levels, the group is guiding for FY27 dividend to be 10 sen per share (at average Brent prices between USD75/bbl and US$80/bbl), or 11 sen per share (at average Brent price above US$80/bbl).
