KUALA LUMPUR (Sept 28): Sapura Energy Bhd shares fell as much as 4.71% after the midday break today following the group's report of a net loss for the fourth straight quarter.
At 2.30pm, the oil and gas outfit was the most actively traded counter on the local bourse with a total of 88.55 million shares done. The stock was traded at 40.5 sen — down 75% from its highest level of RM1.62 on Nov 1, 2017.
In a filing with Bursa Malaysia today, Sapura Energy said it posted a net loss of RM126.06 million in the second quarter ended July 31, 2018 (2QFY19), from a net profit of RM28.93 million a year ago, no thanks to lower revenue contribution.
This resulted in a loss per share of 2.12 sen in the current quarter from earnings per share of 0.49 sen a year ago.
Revenue came in 23.9% lower at RM1.26 billion in 2QFY19 against RM1.66 billion a year earlier, mainly attributable to the lower revenue from engineering and construction and drilling business segments.
For the six-month period ended July 31, 2018 (1HFY18), Sapura Energy reported a net loss of RM261.79 million from a net profit of RM56.46 million a year ago, while revenue dropped 32.4% to RM2.31 billion against RM3.43 billion.
Its exploration and production business' pre-tax profit fell 21.7% on-year to RM36.8 million in 1HFY19 despite a 22.8% jump in revenue to RM437.4 million.
Drilling business remained a drag with revenue declining 34.2% on-year to RM436.9 million, while pre-tax losses more than doubled to RM127 million from RM54.2 million previously.