KUALA LUMPUR: After charting a record bottomline in 2022, Bumi Armada Bhd
says it expects its existing business to be stable in the coming year while it focuses on maintaining operational excellence and securing new projects.
"We continue to chart a record year in 2022 as testament to our unwavering focus on operational excellence and cost efficiencies.
"Moving forward, the company will strengthen its position with prospects of new projects and our stronger commitment in ESG, while remaining focused on safety, sustainability, operational excellence and financial discipline," said Bumi Armada CEO Gary Christenson in a statement.
In the fourth quarter of 2022, the group recorded a 78.54% year-on-year jump in net profit to RM210.68mil, representing an earnings per share of 3.56 sen, mainly owing to the higher contribution from Armada Kraken FPSO.
It said the result was another record full-year net profit, its highest since its listing on the Main Market of Bursa Malaysia in 2011.
The group reported revenue of RM605.03mil, a 17.93% increase over RM513.05mil in the previous corresponding quarter.
This brought the group's net profit in 2022 to RM732.41mil, up 27.58% y-o-y, and revenue to RM2.41bil, 11.23% higher from the previous year.
Bumi Armada said its firm orderbook at the end of 2022 remained robust at RM11.7bil, with additional optional extensions of up to RM9.2bil.
