Gas Malaysia s Profit up 20% in Q4
Mar 1, 2021 11:00:am
Summary
by: Shardul Sharma
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Gas Malaysia s Profit up 20% in Q4
Malaysian gas retailer Gas Malaysia on February 26 said its net profit during the three months to December 31 (Q4) was up 20% year/year thanks to increased gas sales volumes.
The company booked a profit of ringgit 69.23mn ($17mn) in Q4 compared with ringgit 57.93mn a year earlier. Revenue for the quarter was up 8.38% yr/yr at ringgit 1.82bn.
For the 12 months to December 31, the net profit rose 11.84% yr/yr to ringgit 212.62mn, while revenue dropped 2.9% yr/yr to ringgit 6.69bn. The company blamed the revenue decline on lower gas sales volumes in the early part of the year, as a result of lockdown measures imposed by governments to stop the spread of Covid-19.
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posted an improved net profit of RM503.35mil in the fourth quarter ended Dec 31,2020,3.7% higher than RM485.27mil in the previous corresponding quarter.
Revenue for the quarter was up 1.2% year-on-year to RM1.39bil from RM1.37bil on higher contribution from the regasification and gas transport segments in line with new tariffs for Regulatory Period 1 effective Jan 1,2020.
The board of directors approved a fourth interim dividend of 22 sen per share and a special interim dividend of five sen per share, payable on March 22,2021.
This brings the group’s full-year payout to RM1.27 a share, as compared to 87 sen a share in 2019.