27-05-2025
MHB's profit up 17.4% in 1Q25
KUALA LUMPUR: Malaysia Marine and Heavy Engineering Holdings Bhd 's (MHB) net profit rose 17.4% to RM12.2mil in the first quarter ended March 31, compared with RM10.4mil in the year-ago quarter, contributed by both heavy engineering and marine segments.
Revenue, however, more than halved to RM453.1mil from RM984.5mil previously. The decline was primarily due to lower revenue contribution from the heavy engineering segment.
Its earnings per share rose to 0.80 sen against 0.70 sen a year ago.
The heavy engineering segment posted revenue of RM320.2mil, down from RM869.1mil a year ago, due to lower activity from projects nearing completion, while operating profit rose to RM2.2mil from RM0.3mil, supported by the successful close-out of completed projects.
The marine segment recorded revenue of RM132.9mil, up from RM115.4mil a year ago, due to higher conversion activities, with operating profit rising to RM17.4mil from RM13.8mil in line with the improved topline.
The energy and marine solutions provider said that despite the challenging environment, its heavy engineering segment remains supported by a healthy order book and growing opportunities in the new energy sector.
'Leveraging on its technical expertise and industry experience, the segment will continue to sustain its presence in conventional energy while driving growth in new energy sectors to maintain a well-balanced portfolio,' MHB said.
