KUALA LUMPUR: Yinson Holdings Bhd’s net profit for the first quarter ended April 30, 2022 rose to RM120 million versus RM112 million chalked up in the same period a year ago.
The oil and gas company’s revenue for the quarter under review jumped to RM1.01 billion compared with RM992 million previously, the company said in a filing with Bursa Malaysia today.
Commenting on its prospects, Yinson said it is well positioned to face any uncertainties with its robust risk and cost control management.
“We will continue to apply measures to prudently manage inflation risks, including hedging, effective forecasting, diversification of costs across geographical markets, and factoring inflation risk into our contracts,” it added.
Yinson said it is confident of the group’s ability to stay resilient amid the rising global economic challenges with its underlying risks.