KUALA LUMPUR (Feb 18): Shares in Petra Energy Bhd rose 3.88% this morning after its net profit grew 3.42% to RM21.68 million in the fourth quarter ended Dec 31, 2019 (4QFY19) from RM20.96 million a year ago, helped by lower finance costs, administrative expenses, and impairment on trade and other receivables. Revenue fell 35.17% to RM124.37 million from RM191.83 million.

At 9.10am, Petra Energy added 5 sen to RM1.34, for a market capitalisation of RM431.15 million.

The oilfield services provider announced an interim dividend of two sen per share, payable on May 15, 2020. This marks a total dividend declared to-date of six sen, with respect to FY19.

For the full-year ended Dec 31, 2019 (FY19), the company returned to black with a net profit of RM62.55 million, versus a net loss of RM20.92 million a year ago, as revenue climbed 26.84% to RM592.88 million from RM467.42 million.