The Kuala Lumpur-listed company registered first quarter net profit of MYR4.78m ($1.53m), a 48.9% plunge compared to net profit of MYR9.35m in the same period of last year.
Revenue plummeted 56.7% year-on-year to MYR22.15m.
“The global economy seems to be on the road to recovery, but there are constant surprises and uncertainties from the economies in Europe. Nevertheless, the oil and gas industry has improved from the lows experienced in the last two years,” Sealink said.
“We maintain our expectation for more awards by Petronas and other regional oil majors and we believe that this would increase the sale and charter of our offshore marine support vessels.”
Sealink is still cautiously optimistic on the global economy's path to full recovery despite the improvement of crude oil prices to the present level of above $90 per barrel.
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