KUALA LUMPUR: Gas Malaysia Bhd’s net profit increased 17.86 per cent to RM194.64 million in the year ended December 31, 2017 from RM165.14 million a year ago.
This was due to the increase in volume of gas sold and partly offset by higher operating expenses, Gas Malaysia said in a filing to Bursa Malaysia today.
The company said its revenue jumped 32.09 per cent to RM5.35 billion from RM4.05 billion, thanks to the higher volume of gas sold and higher natural gas tariff.
Its net profit in the fourth-quarter rose 49.21 per cent to RM76.98 million from RM51.59 million, while revenue increased 40 per cent to RM1.47 billion from RM1.05 billion a year ago.
The company expects the yearly increase in gas sales volume and number of customers to sustain this year.
“Our group’s profitability is expected to be in tandem with the level reflecting the prevailing tariff setting mechanism framework,” it added.
Gas Malaysia declared a second interim dividend of four sen per share, amounting to RM51.36 million payable on March 27.