PETALING JAYA: Coastal Contracts Bhd
’s growth prospects going forward will be supported by higher contributions from its gas processing and vessel chartering segments as well as joint ventures (JVs).
TA Research said the marine products and services provider’s nine-month financial year 2023 (9MFY23) core profit of RM263.7mil (increased by 197.7% year-on-year or y-o-y) was above both its (88%) expectations and consensus’ full-year forecasts.
“The earnings beat was mainly attributed to higher-than-expected contribution from JV as the Papan Plant continued to recognise greater milestone claims for completion and commenced operations.
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