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Gas Malaysia Q4 net profit grows 13.4%

13 Feb 2020 / 21:01 H.

PETALING JAYA: Gas Malaysia Bhd’s net profit grew 13.4% to RM57.93 million for its fourth quarter ended Dec 31, 2019 compared with RM51.08 million in the corresponding quarter of the previous year, on the back of higher share result from joint venture companies which was offset by higher cost.

Revenue for the period, however, decreased 3.5% to RM1.68 billion from RM1.74 billion previously, driven by higher volume of natural gas sold and upward revision in natural gas tariff.

It has declared a second interim dividend of 4.8 sen amounting to RM61.63 million for the quarter under review.

Gas Malaysia’s full-year net profit expanded 5.4% to RM190.11 million from RM180.39 million, while revenue stood at RM6.89 billion, a 10.5% increase from RM6.23 billion reported previously.

Looking ahead, Gas Malaysia anticipates the annual increase in natural gas sales volume and number of customers will sustain the group for the financial year 2020.

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