Gas Malaysia Berhad Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017; Provides Earnings Guidance for the Year Ending December 31, 2017
For the nine months, the company reported revenue of MYR 3,877,734,000 against MYR 3,002,966,000 a year ago. Profit before zakat and taxation was MYR 151,694,000 against MYR 145,043,000 a year ago. Net profit for the period was MYR 117,210,000 against MYR 113,252,000 a year ago. Net profit attributable to owners of the parent was MYR 117,658,000 or 9.16 sen per share basic and diluted against MYR 113,552,000 or 8.84 sen per share basic and diluted a year ago. Net cash used in operating activities was MYR 73,210,000 against net cash provided by operating activities of MYR 414,033,000 a year ago. Purchase of property, plant and equipment was MYR 71,109,000 against MYR 55,977,000 a year ago. This profit before zakat and taxation was mainly due to higher gross profit in line with increase in volume of gas sold and assets contributed by customers.
For the year 2017, the profitability of the Group for the financial year ending 31 December 2017 is expected to be in tandem with the level reflecting the prevailing tariff setting mechanism framework.