KUALA LUMPUR (March 29): Yinson Holdings Bhd’s net profit grew 11.6% to RM57.14 million in the fourth financial quarter ended Jan 31, 2018 (4QFY18), from RM51.2 million a year ago, on higher contribution from its offshore & marine segment.

Earnings per share expanded to 5.31 sen for the quarter from 4.71 sen. Quarterly revenue stood at RM257.39 million, up 38.8% from RM185.47 million recorded in 4QFY17.

In a filing with Bursa Malaysia today, Yinson said the significant increase in the contribution from its offshore & marine segment, from RM542.74 million to RM909.15 million, was mainly attributable to the chartering commencement of the floating production storage and offloading (FPSO) John Agyekum Kufuor (FPSO JAK) in June 2017 and the stronger US dollar that had resulted in higher revenue on conversion into ringgit.

For the full financial year 2018 (FY18), Yinson's net profit jumped 48.3% to RM292.18 million from RM197.05 million in FY17, mainly attributable to better profit contribution on higher recorded revenue from its offshore & marine business as well as net lower impairment loss and recovery on trade and other receivables of RM33 million.

The board of directors has also declared a special dividend of 4 sen per ordinary share for the financial year ended January 31 2018, amounting to approximately RM43.5 million, which is payable on June 8, 2018.