Results good due to upstream rm29 mil which they have recognised earnings from Q218. Minus the upstream profit, service / maintenance profit drop. Net profit if u exclude upstream is loss. How?
Can’t rely on upstream lor. Rm29 divided by 6 quarters since Q218 only rm5 per quarter. Not enough. Some more hibiscus upstream also struggling to achieve profit with low oil price.
Petra Energy Bhd posted a net profit RM25.04 million in the third quarter ended Sept 30, 2019 compared to net loss RM26.97 million a year ago, on the back of higher revenue.
In a filing to the exchange today, Petra Energy said revenue for the quarter rose to RM219.01 million from RM119.74 million in the previous year.
Earnings per share was 7.8 sen compared to loss per share of 8.4 sen.
Petra Energy declared an interim dividend of 2 sen per share, payable on Feb 3, 2020.
Don’t kill urself bro Penergy I know it’s ur kpi as operator but be patience. Market will price in regardless what u say coz results is not so favourable.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
danielleesing
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Posted by danielleesing > 2019-11-18 16:01 | Report Abuse
Stronger 3Q results likely to boost O&G sector