KUALA LUMPUR: Bumi Armada Bhd ‘s first-quarter results, an improvement over the same quarter last year, are a “solid start”, says CEO Gary Christenson, as he said the group will continue to seek out new projects and opportunities.
“I’m pleased we’ve continued to operate safely. We remain vigilant in ensuring the stable operation of our vessels which drives our financial performance,” he said in a statement.
During the quarter, the group recorded zero “lost time injury”, which refers to the amount of time an employee is absent from work due to an injury sustained on the job.
In 1QFY24, Bumi Armada registered a net profit of RM240.54mil, up from RM201.01mil in the year-ago quarter, while revenue rose to RM635.54mil from RM543.99mil in the comparative quarter.
The group’s earnings per share stood at 4.06 sen as compared to 3.4 sen in 1QFY23.
Cash flow from the group’s operations remained strong, with RM315.3 million generated during the quarter which resulted in an increase in cash holdings.
As at end-March 2024, the group’s future firm orderbook amounted to RM9.7bil, with additional optional extensions of up to RM10.3bil.