KUALA LUMPUR (March 25): Sapura Resources Bhd posted a net loss of RM1.86 million in its fourth quarter ended Jan 31, 2019, after having also reported losses for each of the first three quarters.

The fourth quarter loss, however, compares with a net profit of RM14.90 million in the previous financial year’s fourth quarter (4QFY18), when there was a one-off reversal of an indemnity provision worth RM22 million.

In a filing to Bursa Malaysia, Sapura Resources said fourth quarter revenue rose marginally to RM13.08, from RM12.95 million a year earlier, due to an increase in revenue from the property segment.

For the full financial year ended Jan 31, 2019 (FY19), the group posted a net loss of RM6.14 million, as against a net profit of  RM13.45 million in FY18. This was again attributed to the one-off reversal of the RM22 million indemnity provision in FY18.

Revenue for the year fell 4.90% to RM48.84 million from RM51.35 in FY18, due to lower revenue from the group’s aviation and property segments.

Sapura Resources said the group is currently being driven by its property and aviation segments.

“The company takes a long-term view on its property investment, despite the current soft market. For aviation business, we continue our efforts to optimize its operations,” the group said.

Shares of Sapura Resources were not traded today. The counter last traded at 62 sen, giving the group a market capitalisation of RM86.55 million.