KEYFIELD RECORDS RM30.6M PROFIT IN 1Q2024

A newly-listed oil & gas company has shown extraordinary performance by recording RM30.6M of net profit in its 1Q.  Keyfield is a company that provides vessel accommodation services. As stated by the board, the contribution of higher revenue and net profit was due to the revenue generated from the additional 4 vessels, higher utilisation, and chartered rate. By referring to 1Q2023, the revenue was showing a 92.1% increment, EBITDA recorded an increase of 156.5% from RM21.6M to RM55.4M while the PATAMI was improved with a huge percentage of 319.2% with the exponential growth of RM23.3M.  Although its revenue was reduced RM13.1M from 4Q2023, however the cost of sales was slumped leading to a higher margin of gross profit in 1Q2024

The details of the 1Q2024 report can be accessed through
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=228131&name=EA_FR_ATTACHMENTS

By: Jshen Ng