KUALA LUMPUR, Aug 19 — Gas Malaysia Bhd’s net profit rose to RM49.01 million for the second quarter ended June 30, 2019 from RM48.07 million recorded in the same quarter a year ago.

Revenue increased 15.5 per cent to RM1.74 billion from RM1.5 billion previously, mainly due to higher volume of natural gas sold and higher natural gas tariff, it said in a filing to Bursa Malaysia.

For the six-month period, the group’s net profit was higher at RM90.18 million against RM88.29 million, while revenue rose 17.5 per cent to RM3.45 billion compared with RM2.94 billion.

Gas Malaysia anticipates that the yearly increase in natural gas sale volume and number of customers will sustain for the financial year 2019.

Advertisement

“The profitability of the group for the financial year ending Dec 31, 2019 is expected to be in tandem with the level reflecting the prevailing tariff setting mechanism framework,” it added. — Bernama