Yinson's Q4 profit up 11.6%, declares six sen dividend

PETALING JAYA: Yinson Holdings Bhd saw an 11.6% rise in net profit to RM57.14 million for the fourth quarter ended January 31, 2018, compared with RM51.2 million in the previous corresponding period, supported by higher contribution from its offshore and marine segment and lower impairment loss on trade and other receivables.
Its revenue soared 38.8% to RM257.39 million from RM185.47 million.
The group proposed a six sen dividend, comprising a two sen final dividend and four sen special dividend for the quarter under review.
Yinson’s full-year net profit expanded 48.3% to RM292.18 million from RM197.05 million on the back of a 67.5% jump in revenue to RM910.16 million from RM543.26 million.
Looking ahead, it said the short-term to medium-term outlook in the oil and gas sector remains challenging and uncertain due to protracted oversupply, emerging new alternative energy resources and financial institutions risk appetite towards the sector.
“Amid the challenging global economic environment and the volatility of other currencies against US dollar, the group shall strive to achieve satisfactory results for the financial year ending January 31, 2019.”
The stock closed unchanged at RM3.76 on some 1.28 million shares done.