KUALA LUMPUR (November 23): Bumi Armada today said a quarterly net net loss of RM502.83 million compared to a net profit of RM123.73 million in the previous year as the oil and gas support services provider was identified to had an adverse effect on assets.
In a statement to Malaysia in Bursa today, Bumi Armada said that revenue fell to RM588.05 million in the third season to the end of September 30, 2018 (3QFY18) from RM641.39 million. Bumi Armada's revenue statement shows weakness to RM563.48 million from RM1.91 million.
"During the third quarter of 2018, its non-rental group RM41.4 million recognized RM522.1 million for the FPO (production and operation of flowers) and WHO businesses (offshore marine services) sea) separately.
"Our organization is currently focusing on improving our cost structure and looking to strengthen our balance by paying money on non-use resources and creating a steady cash flow, "said the group.
For the nine-month period (9MFY18), Bumi Armada said a net loss at RM1.04 billion against a net profit against RM288.43 million in the previous year. The company said that income would be higher at RM1.84 billion compared to RM1.74 billion in the previous year.