KUALA LUMPUR: Oil and gas contractor Petra Energy Bhd said higher work order flow and increased vessel utilisation rate boosted its profits in the first quarter.
Net profit in the three-month ended March 31 rose to RM1.7mil from RM1mil a year ago.
Revenue jumped to RM111.8mil compared with RM67.5mil previously.
"There are signs that the industry is recovering from a period of low activities," it said in a filing with Bursa Malaysia today.
"Concerns, however, remain on the sustainability of this recovery," it added.