Malaysia's SapuraKencana posts 8.6 pct jump in Q2 net profit

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KUALA LUMPUR (Sept 25): SapuraKencana Petroleum Bhd, a Malaysian oil and gas services firm, said net profit rose 8.6 percent in the second quarter, driven by new contracts obtained by its subsidiaries.

Net profit climbed to 445.8 million ringgit ($137.3 million) in the three months to July 31 from 410.5 million ringgit in the same period a year ago, according to a stock exchange filing on Thursday.

SapuraKencana has been expanding aggressively over the past two years and recently completed the acquisitions of tender rig business from Norway's Seadrill and assets from U.S. firm Newfield Exploration. The company now has a healthy order book of some 27 billion ringgit. - Reuters