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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.

https://www.thestar.com.my/business/business-news/2019/05/07/petra-energy-posts-higher-profit-in-q1/
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