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KUALA LUMPUR: Ahmad Zaki Resources Bhd (AZRB) posted a net loss of RM20.62mil in the fourth quarter ended June 30 (4Q21) against a net profit of RM30.54mil in the same quarter a year prior.
The group recorded a pre-tax loss of RM8mil in 4Q21 against a pre-tax profit of RM48.8mil recorded in the previous corresponding quarter.
AZRB said the pre-tax results for both quarters were largely impacted by unrealised foreign exchange gains in the plantation division.
“Adjusting for the impact of unrealised forex results, the group’s pre-tax loss narrowed to RM10.7mil from RM26.6mil previously, a 59.9% reduction in losses,” it said in the notes accompanying its financial results.
In 4Q21, AZRB’s revenue grew 27.6% to RM208.3mil from RM163.3mil a year ago.
For the full financial year ended June 30, AZRB posted a smaller net loss of RM68.81mil from RM106.7mil last year. Revenue, however, fell to RM846.98mil against RM966.17mil a year earlier.
Commenting on its prospects, AZRB said currently in the engineering and construction division, the group had RM831mil of outstanding order-book as at June 30.
“The group is focusing on sourcing for avenues to replenish its order-book, whilst the current outstanding balance will be able to sustain AZRB for the upcoming year,” it said.
On its oil and gas segment, AZRB said the Tok Bali Supply Base is at its last stage of preparations in anticipation of an elevated level of activities, in particular drilling operations, of which the division is in final negotiations with the relevant parties to formalise their move into the supply base in the coming months.