KUALA LUMPUR: Yinson Bhd has reported a net profit of RM60.6 million for the first quarter (Q1) ended April 30, 2018, from RM60.2 million recorded in the same period last year.
Revenue rose RM235.1 million from RM172.4 million previously, it said in a filing with Bursa Malaysia today.
The group said it would strive to achieve satisfactory results for the financial year ending Jan 31, 2019, amid challenging global economic environment and volatile currency markets.
However, it said the lagging investments in the industry over the past years could boost demand to replenish depleting global production.
Meanwhile, in a separate statement, Group Executive Chairman Lim Han Weng said Q1 saw the group’s results affected by the weaker greenback on translation into the ringgit.
“Over the past months, the stability in oil prices lifted sentiment in the O&G industry.
"Despite the volatility in certain economies, we are cautiously optimistic that there would be more opportunities in the market during the year for us to grow our business in a sustainable manner,” said Lim.