Yinson’s Q3 net profit flat at RM85.7 million

PETALING JAYA: Yinson Holdings Bhd reported a flat net profit of RM85.74 million for the third quarter ended Oct 31, 2015 compared with RM86.79 million in the previous corresponding period, mainly due to higher income tax and administrative expenses as well as finance costs.
Revenue for the quarter was down 3.45% from RM255.22 million to RM246.41 million.
Yinson said it is striving to maintain satisfactory results for the financial year ending Jan 31, 2016 amid a challenging global economic environment.
Net earnings for the nine-month period expanded 18.13% from RM147.77 million to RM174.57 million. Revenue, meanwhile, came in 11.49% lower at RM734.46 million, compared with RM829.8 million in the same period last year.
Yinson’s shares rose 2.5% to close at RM2.9 yesterday, with some 352,000 shares changing hands.