| KUALA LUMPUR: SCOMI MARINE BHD [ SCOMIMR 0.580 0.010 (1.754%) ]'s net profit for the second quarter (2Q) ended June 30, 2009, grew 55% to RM22.48 from RM14.52 million a year earlier due to improved margins through better operations management.
Gross profit margin for the quarter was wider at 26. 2% compared with 18.2% in the corresponding quarter through lower bunker and docking expenses, it said in a statement yesterday.
Revenue, however, dipped slightly to RM110.90 million from RM117.04 million previously as its coal division saw lower tonnage carried for the quarter. However, its offshore support division recorded slightly better revenue by RM300,000.
Basic earnings per share rose to 3.12 sen from 1.98 sen.
Scomi Marine was confident of the long-term fundamentals of both the oil and gas and coal industries but would maintain prudence in the current environment. It also expects better tonnage in the second half of this year as signs of pick up in production for the mines become more apparent. |
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