Tuesday, 26 February 2013

Petra Energy Q4 results turn red

KUALA LUMPUR, Feb 25 – Petra Energy Bhd posted a pre-tax loss of RM10.590 million for the fourth quarter ended Dec 31, 2012 from a pre-tax profit of RM6.825 million recorded in the same period previously.

Its revenue declined to RM191.232 million from RM217.708 million, previously.

In a filing to Bursa Malaysia today, the company said the weaker results were due to the lower contribution from integrated brown field maintenance and engineering services segment.

On prospects, Petra said, whilst, maintaining its focus on integrated brown field services activities, the group was continuously enhancing its capabilities to expand into relevant market sectors. – Bernama