Keyfield more than doubles 2Q net profit, flags upcycle amid tight supply
theedgemalaysia.com
15 Aug 2024, 07:33 pm
KUALA LUMPUR (Aug 15): Oil and gas services firm Keyfield International Bhd (KL:KEYFIELD) more than doubled its net profit in the second quarter and flagged an industry upcycle amid tight supply of vessels servicing the industry.
The average daily charter rates were higher in the April-June quarter (2QFY2024) when compared to the same quarter last year, Keyfield said in an exchange filing. The company’s accommodation vessels were also busier with an increase in the number of chartered days and utilisation rate, Keyfield noted.
Net profit for 2QFY2024 was RM70.04 million compared to RM30.16 million over the same period a year earlier. The company would have booked a net profit of RM77.1 million after adding back non-cash share option expenses and non-recurring listing expenses and accretion of interest on preference shares.
Revenue for the quarter surged 87% year-on-year to RM198.98 million from RM106.56 million. The number of chartered days for its own vessels in 2QFY2024 was 970 days with utilisation rate of 96.9% versus 2QFY2023’s 808 days and utilisation rate of 93.8%.
Keyfield International Bhd CEO Datuk Darren Kee said the company has fully repaid its bank borrowings and they can leverage on their current debt-free balance sheet to further enhance returns to our shareholders while remaining vigilant and dedicated in managing their fleet and operations prudently.
Keyfield sememangnya sedang berkembang dengan baik. Yakin ia boleh meneruskannya. Terdapat satu lagi syarikat OSV yang juga berkembang dengan baik . Tetapi ia didagangkan pada sebahagian kecil daripada penilaian. Ini adalah Nam Cheong. Listed SGX. Adakah anda bersetuju?
Not the share not good. But after Serba case now investor more aware to this kind of stock. Same high eps, receivables keep going up, higher and higher liabilities, pay high dividend but at the same time raise fund. Logically, the company should have healthy cash flow before pay high dividend to shareholders.
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....
Zikir95
234 posts
Posted by Zikir95 > 2024-08-14 17:56 | Report Abuse
Bull yang kuat dan berotot 😁