KUALA LUMPUR (March 30) : SAPURACREST PETROLEUM BHD []’s net profit rose 5% in the fourth quarter from a year earlier as lower operating expenses and foreign exchange gains mitigated the impact lower revenue during the period.
In a statement to the bourse on Friday, Sapuracrest said its net profit climbed to RM76.52 million from RM 72.67 million a year earlier while revenue was down 6% to RM560.43 million from RM596.34 million.
The oil and gas support services provider said higher contribution from its drilling operations had supported its bottom line during the quarter.
Sapuracrest’s cumulative full-year net profit rose 34% to RM310.23 million from RM231.45 million a year earlier although revenue fell 19% to RM2.56 billion from RM3.18 billion.
In a statement to the bourse on Friday, Sapuracrest said its net profit climbed to RM76.52 million from RM 72.67 million a year earlier while revenue was down 6% to RM560.43 million from RM596.34 million.
The oil and gas support services provider said higher contribution from its drilling operations had supported its bottom line during the quarter.
Sapuracrest’s cumulative full-year net profit rose 34% to RM310.23 million from RM231.45 million a year earlier although revenue fell 19% to RM2.56 billion from RM3.18 billion.
