KUALA LUMPUR, May 13 ― Gas Malaysia Bhd’s shares were traded higher in the early morning trading session on Friday following its positive first quarter of 2022 results.The company posted a higher net profit of RM91.32 million in Q1 ended March 31, 2022, compared to RM55.63 million in Q1 2021, due to higher gross profit, lower administrative expenses and higher contributions from its joint venture companies.
In a note, MIDF Research said the company is expected to continue performing well and remain resilient despite the volatile hydrocarbon prices.
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