Thursday 28 Mar 2024
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KUALA LUMPUR (Dec 8): Sapura Energy Bhd tumbled 11.92% this morning after posting a net loss of RM274.41 million in its third quarter ended Oct 31, 2017 (3QFY18), compared to a net profit of RM158.06 million a year ago.

At 9.30am, Sapura Energy lost 11.5 sen to 85 sen with 94.99 million shares done.

The net loss was a result of lower revenue from engineering, construction and drilling business segments, as well as lower contribution from its share of profit from joint ventures. Quarterly revenue fell 42% year-on-year to RM1.28 billion from RM2.22 billion.

For the cumulative nine months (9MFY18), the group recorded a net loss of RM217.95 million compared to a net profit of RM380.64 million a year ago, while revenue fell 19% to RM4.71 billion from RM5.84 billion in 9MFY17.

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