SINGAPORE (Yosefardi) – SGX-listed KS Energy Limited, controlled by Cris Wiluan, booked consolidated revenue of $58.5 million and consolidated net profit after tax of $3.3 million for the third quarter ended 30 September 2014 (Q3 2014).
The Group’s consolidated revenue rose 34.2% from $43.6 million in Q3 2013 to $58.5 million in Q3 2014. This was mainly due to higher contribution from its Drilling business.
Consolidated net profit after tax rose from $0.7 million in Q3 2013 to $3.3 million in Q3 2014 with the commencement of a charter contract in Vietnam.
The result attributable to the owners of the Group increased from a profit of $2.5 million in the first nine months of 2013 to a profit of $46.4 million in the first nine months of 2014.
Commenting on the Group’s performance, Mr. Kris Wiluan, Chairman and CEO said: “The long term fundamentals of the oil and gas industry remain robust despite the recent slide in oil prices. We will continue to seek and develop opportunities to expand both our Drilling and Distribution businesses in Asia, where we believe economic development will continue to be strong, driving the region’s energy demand.”