KEYFIELD'S NET PROFIT HIGHER AT RM81.1 MLN IN 3Q

KUALA LUMPUR, Nov 14 (Bernama) -- Keyfield International Bhd posted its quarterly record-high net profit of RM81.12 million during the third quarter ended Sept 30, 2024 (3Q 2024) compared to RM45.78 million net profit in the same quarter last year.

Revenue also increased to RM216.79 million against RM148.95 million previously, reflecting a strong and robust quarter for its vessel chartering business, it said in a filing with Bursa Malaysia today.

For the cumulative nine months of FY2024, the group's net profit rose to RM181.45 million from RM83.35 million recorded in the same period last year, while revenue also jumped to RM522.15 million from RM310.92 million previously.

Keyfield group chief executive officer and executive director Datuk Darren Kee Chit Huei said the quarter under review’s strong performance was underpinned mainly by the high utilisation rates and higher number of own vessels.

"We continue to prioritise the needs of our customers and aligning our vessels’ capabilities and operational conditions to their complex requirements.

"As we grow our business, we will continue to focus on market conditions and requirements, ensuring our sustainable growth by meeting such evolving needs,” he said.

Meanwhile, the group also declared a third interim dividend of 4.0 sen per ordinary share, amounting to RM32.1 million, to be paid to entitled shareholders on Dec 19, 2024.

At the close of trading today, Keyfield share price rose one sen to RM2.26 per share with a total of 1.436 million shares changing hands.

-- BERNAMA