Sapuracrest Petroleum Bhd's profit before tax for the financial year ended Jan 31, 2011 increased to RM424.062 million from RM363.999 million.

Revenue was lower at RM3.193 billion from RM3.257 billion previously, the company said in a statement today.

It said revenue decreased marginally mainly due to lower activities in the marine services and drilling divisions while the higher pre-tax profit was
mainly due to favourable results in the installation of pipeline and facilities
(IPF) division including higher contribution from IPF joint ventures and reduced losses in the marine services division. -- Bernama