MHB's Q3 PBT soars to RM41.12m
Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) posted a pre-tax profit of RM41.12 million for the third quarter ended September 30, 2013 from RM10.25 million in the corresponding quarter of the last financial year.
However, revenue fell to RM449.67 million from RM841.78 million a year ago.
The higher pre-tax profit was due to higher operating profit from the offshore segment, the company said in a filing to Bursa Malaysia today.
"In the quarter under review, the group successfully loaded out the Damar Topside and Jacket for Exxon Mobil Exploration and Production Malaysia Inc and the F14 Jacket for Sarawak Shell Bhd," it added.
On prospects, the group is focused on replenishing its orderbook, with confirmation from Petronas Carigali on the EPCIC development of Block SK316 with its joint-venture partner, Technip.
The Group will also continue to bid for domestic as well as regional offshore development projects.
No dividend has been proposed for the quarter ended September 30, 2013.-- Bernama