Bumi Armada Reports First Quarter 2017 Net Profit of RM48.1 Million

Kuala Lumpur, 31st May 2017 – Malaysia-based international offshore energy facilities and services provider Bumi Armada Berhad (“Bumi Armada” or “the Group”) today announced its first quarter (“Q1”) 2017 financial results. Revenue for the Group declined 6.2% year-on-year, to RM404.2 million. At the FPO business segment level the Q1 2017 revenues increased by 10.7% year-on-year, mainly from initial revenue streams relating to first oil and first gas on Armada Olombendo and Armada LNG Mediterrana respectively. However, the OMS segment saw a decline in revenue of 23.2%, due to a lower utilisation of the OSV fleet.