Bumi Armada Bhd, a Malaysian offshore oilfield services provider, posted a net income of RM92.6 million (US$29 million) for the third quarter ended Sept. 30, compared with RM100.1 million a year earlier, it said in a stock exchange announcement today.
Revenue rose to RM403.9 million from RM328.9 million previously, the Kuala Lumpur-based company said.
The outlook for the offshore oil and gas business remains “positively buoyed” by crude prices sustaining above US$70 per barrel and continued investment, Bumi Armada said.
Bumi Armada fell the most in more than a week in Kuala Lumpur trading after today reporting a seven percent decline in third-quarter earnings.
The stock dropped 1.5 percent to RM3.88 at 10:05 a.m. local time, set for its biggest decrease since Nov. 11. -- Bloomberg
Revenue rose to RM403.9 million from RM328.9 million previously, the Kuala Lumpur-based company said.
The outlook for the offshore oil and gas business remains “positively buoyed” by crude prices sustaining above US$70 per barrel and continued investment, Bumi Armada said.
Bumi Armada fell the most in more than a week in Kuala Lumpur trading after today reporting a seven percent decline in third-quarter earnings.
The stock dropped 1.5 percent to RM3.88 at 10:05 a.m. local time, set for its biggest decrease since Nov. 11. -- Bloomberg
