Kuala Lumpur: Profits remained stable in the third quarter of year for Malaysian offshore vessel owner and operator Bumi Armada. Year-to-date the company reported a profit of RM238.5m.“We achieved a profit of RM238.5m, down 1% from the same period a year ago. This was mainly due to expenses in relation to our listing on the Bursa Malaysia,” said Hassan Basma, ceo of Bumi Armada.
The company reported year-to-date revenues of RM1.17bn up 34.8% on the previous year. Utilisation of the company’s OSV fleet was up 10% in the third quarter compared to the previous three months at 93%.
Story from www.seatrade-asia.com.
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