Gas Malaysia Q2 net profit up marginally on increase in gas sales volume

Gas Malaysia Q2 net profit up marginally on increase in gas sales volume

Gas Malaysia Bhd's net profit for the second quarter ended June 30, 2017
rose 1.2% to RM39.46 million from RM38.97 million a year ago, mainly due to
higher gross profit in line with the increase in volume of gas sold.

Its revenue jumped 32.2% to RM1.29 billion compared with RM973.79 billion in
the previous year's corresponding quarter, mainly due to higher volume of
gas sold, upward revision of natural gas tariff and higher tolling fees.

For the six month period, Gas Malaysia's net profit increased 4% to RM73.20
million from RM70.35 million a year ago, while revenue surged 28% to RM2.47
billion from RM1.94 billion.

The group said the growth in revenue for the financial period ended June 30,
2017 was primarily driven by the increase in volume of gas sold and
revisions in gas tariff.

"The board anticipates that the yearly increase in gas sales volume and
number of customers to sustain for financial year 2017. The profitability of
the group for the financial year ending Dec 31, 2017 is expected to be in
tandem with the level reflecting the prevailing tariff setting mechanism
framework," Gas Malaysia said.

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Link to Original Article:
http://www.thesundaily.my/news/2017/08/10/gas-malaysia-q2-net-profit-margina
lly-increase-gas-sales-volume

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com