KUALA LUMPUR: Gas Malaysia Bhd is expecting a satisfactory performance in 2023 as it continues to take prudent measures to maintain operational efficiency and seeks out new growth opportunities.

In a filing with Bursa Malaysia, the gas merchant posted a second financial quarter net profit of RM97.81mil, which was down from RM107.34mil in the same quarter in 2022.

The group recorded a lower earnings per share of 7.62 sen compared to 8.36 sen previously.

This was despite revenue rising to RM2.02bil from RM1.78bil in the comparative quarter.

According to Gas Malaysia, the weaker bottomline was mainly attributed to higher administrative expenses and lower contributions from its joint-venture companies.

This was however partially offset by higher finance income in the quarter under review.

For the cumulative first half of 2023, Gas Malaysia’s net profit was RM192.91mil, down from RM198.66mil, while revenue was RM4.46bil from RM3.56bil in the previous corresponding period.

The board of directors declared a first interim dividend of 5.72 sen per share, amountung to RM73.44mil, which will be paid on Oct 27, 2023.