KUALA LUMPUR, Sept 28 — Yinson Holdings Bhd’s net profit in the second quarter (Q2) ended July 31, 2020 rose 144 per cent to RM100.36 million from RM41.14 million in the same quarter a year ago.

Revenue jumped to RM995.58 million from RM213.44 million in the preceding year corresponding quarter mainly due to the recognition of contribution from the engineering, procurement, construction, installation and commissioning (EPCIC) business activities, it said in a filing with Bursa Malaysia today.

"EPCIC business activities contributed RM654.59 million during the period under review based on the progress measured using input method in accordance with actual costs incurred as reflected in the significantly higher direct expenses.

"Amid the challenging global economic environment and the volatility of other currencies against the US dollar, the company will strive to achieve satisfactory results for the financial year ending January 31, 2021,” it said.

Yinson said the company’s earnings per share for the quarter under review stood at 9.18 sen against 3.75 sen in same quarter last year while net assets per share was RM1.68 as at July 31, 2020.

Its share price was down six sen to RM5.64 at today’s closing with 1.27 million shares traded. — Bernama