Thursday 28 Mar 2024
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KUALA LUMPUR (Nov 23): Bumi Armada Bhd shares fell as much as 2.5 sen or 8% to 30.5 sen so far today, after the oil and gas support services provider 
reported a third quarter net loss of RM502.83 million versus a net profit of RM123.73 million a year earlier, on significantly higher asset impairments.
 
At 3pm, Bumi Armada shares were traded at 31.5 sen, with some 21 million units transacted. Bumi Armada was traded among Bursa Malaysia's most active stocks.

In a statement to Bursa Malaysia, Bumi Armada said revenue fell to RM588.05 million in the third quarter ended Sept 30, 2018 (3QFY18), from RM641.39 million. Bumi Armada's income statement shows impairments rose to RM563.48 million from RM1.91 million.

For its cumulative nine-month period (9MFY18), Bumi Armada said net loss stood at RM1.04 billion versus a net profit of RM288.43 million a year earlier. The group said revenue was higher at RM1.84 billion, compared to RM1.74 billion in the previous year.

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