KUALA LUMPUR: Yinson Holdings Bhd’s net profit in the second-quarter (Q2) ended July 31, 2017 rose 38.5 per cent to RM83.60 million from RM60.36 million a year ago.
This was due to higher contribution from marine business on the chartering commencement of floating production, storage and offloading (FPSO) John Agyekum Kufuor, absence of impairment loss on investment properties and lower administration expenses.
In an exchange filing today, Yinson said revenue surged 89.81 per cent to RM217.24 million from RM114.45 million previously.
The company said the global economic activity is expected to remain subdued despite unprecedented easing of monetary conditions in major economies.
“Amid the challenging global economic environment and the volatility of other currencies against USD, we shall strive to achieve satisfactory results for the financial year ending January 31, 2018,” it added.