<div class=newsTextDataWrapInner><p>KUALA LUMPUR: Barakah Offshore Petroleum Bhd saw its net profit soar 565.9% to RM26.17 million for its fourth quarter ended Dec 31, 2014 (4QFY14), from RM3.93 million a year ago, mainly due to the completion of several pre-commissioning works and ongoing transport and installation, onshore engineering, procurement, construction and commissioning and hook-up commissioning works that were carried out during the quarter under review.</p></div>

<div class=newsTextDataWrapInner><p>Earnings per share (EPS) was higher at 4.11 sen from 0.64 sen.</p></div>

<div class=newsTextDataWrapInner><p>Revenue was up 342.4% at RM366.1 million from RM82.76 million in 4QFY13.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>For the full year, which covers a 15-month period after the group changed its financial year end from September to December, Barakah (fundamental: 2; valuation: 1.5) almost doubled its net profit to RM80.27 million from RM41.13 million the previous year.</p></div>

<div class=newsTextDataWrapInner><p>EPS for FY14 rose to 12.62 sen from 8.49 sen in FY13, while revenue spiked 217.5% to RM949.04 million from RM298.9 million.</p></div>

<div class=newsTextDataWrapInner><p>Looking ahead, Barakah remains positive on its prospects over the medium term despite the drop in global oil prices as the group still had an order book of RM1.97 billion as at Feb 16 this year, which will keep it busy for the next three years.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>This article first appeared in<em> The Edge Financial Daily</em>, on February 26, 2015.</p></div>


KUALA LUMPUR: Barakah Offshore Petroleum Bhd saw its net profit soar 565.9% to RM26.17 million for its fourth quarter ended Dec 31, 2014 (4QFY14), from RM3.93 million a year ago, mainly due to the completion of several pre-commissioning works and ongoing transport and installation, onshore engine...

Barakah Offshore 4Q net profit surges 565.9%

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<p><em><strong>More to come</strong></em></p>
...

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