Sapura Energy expects better year ahead

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KUALA LUMPUR: Sapura Energy Bhd made a net loss of RM216mil in the last quarter ended Jan 31, plunging the company into its second straight annual losses.

Sapura Energy had registered three profitable quarters in financial year 2021 (FY21), but lost money in the fourth quarter due to lower project margins in its engineering & construction (E&C) business segment.

“During the quarter, the E&C segment sustained additional costs brought about by Covid-19 and by working through the monsoon season, ” it said in a statement.

The group recorded a loss after tax of RM160mil in FY21 compared with a loss after tax of RM4.6bil in the previous financial year.

“The board remains confident that the turnaround trends seen in the third and fourth quarter of FY21 will lead to better group performance in FY22, ” it said.

Sapura Energy yesterday announced that it has secured RM1bil worth of new contracts, including an 18-month job to supply and maintain the point-of-sales system at Petronas petrol pumps.

With a current orderbook at RM13.7bil, the group has secured about 80% of its revenue for FY22.

Sumber: TheStar