Perdana Petroleum surges to 41-month high on upbeat Q2 earnings

  • 📰 fmtoday
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 72%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Offshore support vessel operator the most actively traded counter on Bursa Malaysia as trading volume surged to 202.52 million shares.

Perdana Petroleum Bhd achieved a turnaround with a net profit of RM8.65 million in Q2 FY2023 from a RM6.54 million net loss last year.

The counter reached an intraday high of 24 sen during the afternoon session from yesterday’s closing price of 18.5 sen. This marked its highest level since March 2020, before settling at 23.5 sen at the close for a gain of 27.03% or 5 sen.It was also the most actively traded counter on Bursa Malaysia as its trading volume surged to 202.52 million shares, nearly 22 times higher than its 200-day average volume of 9.3 million shares.

The quarterly earnings upswing was attributed to increased utilisation rates of accommodation work barges, yielding improved profit margins, reduced depreciation expenses, and the recovery of an impairment loss totalling RM1.7 million on receivables.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines