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Yinson Saw Its Q3 Profit Dip By 20% To RM200Million, Declares 1 Sen Dividend

Business Today ·  Dec 13 13:24
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Yinson Holdings Berhad released its third-quarter financial results reporting a lower revenue of RM1.83 billion compared to
Q2 FYE2025's revenue of RM2.14 billion. The decrease of RM289 million the group said was mainly due to lower contribution from EPCIC business activities as a result of lower reported progress for the Group's FPSOs under construction in the current quarter, moderated by the gain on the remeasurement of finance lease receivables arising from the lease extension for FPSO Abigail Joseph and effect of charter day rate escalation for FPSO Maria Quitéria.

The Group's profit before tax for the third quarter of the current financial year decreased by 11% or RM36 million to RM297 million as compared to RM333 million in the preceding quarter. while profit after tax was also lower to RM200 million compared to RM248 million in the previous year's quarter.

Yinson said the decrease reflects the same drivers as for the group's revenue, which was partially offset by one-off impacts of reversal of impairment of property, plant and equipment of RM18 million and gain on disposal of a subsidiary of RM163 million (including recycling of associated foreign currency translation reserves to profit or loss)

The board declared a third interim single-tier dividend of 1 sen per ordinary share in respect of the financial year ending 31 January 2025.

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