Perdana Petroleum posts higher net profit in FY24

PETALING JAYA: Perdana Petroleum Bhd will continue building on its strengths and enhanced efficiency to ensure long-term sustainability and relevance.

For the fourth quarter ended Dec 31, 2024 (4Q24), the group said, in a filing with Bursa Malaysia, that it had recorded a higher net profit of RM29.46mil compared with RM21.36mil in the previous corresponding period, attributable to tax income amounted to RM5.8mil.

During the quarter, the company posted a lower revenue of RM89.1mil due to lower utilisation rate of 50% compared with 53% achieved for the same period last year, as well as lower revenue generated from chartering of third-party vessels, the group said in the filing.

As for the full financial year, the group posted a higher net profit of RM146.03mil, on revenue of RM440.1mil.

“The higher revenue was mainly the result of much improved daily charter rates on the back of a higher vessel utilisation rate of 70 % against 58% last year.

“Higher revenue generated from third party vessel chartering activities and better chargeable ancillary services also contributed to the higher revenue for the year,” it said.