MISC Bhd's earnings surged 80.7% to RM1.34bil in the second quarter ended June 30, 2016 from RM745.18mil a year ago, boosted by net acquisition of subsidiaries. It declared an interim dividend of 10 sen a share.
The liquified natural gas (LNG) shipper, which is also involved in heavy engineering, announced on Thursday there was a net gain on acquisition of subsidiaries of RM847.3mil.
However, group revenue fell 8% to RM2.39bil from RM2.60bil. Group operating profit fell 25.6% to RM500.3mil from RM672.1mil. Earnings per share were 30.2 sen compared with 16.7 sen.
MISC said its LNG revenue fell 7.5% to RM626.9mil from RM677.7mil mainly from operating a smaller fleet of vessels and lower charter rates earned on new contracts in the current quarter.
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The liquified natural gas (LNG) shipper, which is also involved in heavy engineering, announced on Thursday there was a net gain on acquisition of subsidiaries of RM847.3mil.
However, group revenue fell 8% to RM2.39bil from RM2.60bil. Group operating profit fell 25.6% to RM500.3mil from RM672.1mil. Earnings per share were 30.2 sen compared with 16.7 sen.
MISC said its LNG revenue fell 7.5% to RM626.9mil from RM677.7mil mainly from operating a smaller fleet of vessels and lower charter rates earned on new contracts in the current quarter.
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