Scomi Group Bhd posted an unaudited pre-tax profit of RM23 million for the first quarter ended March 31, 2012, up 70
per cent, over the RM13.5 million reported in the same quarter last year.

Revenue rose to RM365.2 million, during the quarter under review, from RM306.6 million registered, previously.

In a statement to Bursa Malaysia, Scomi said its oilfield services division recorded a higher revenue of RM292.1 million on the back of improved performance from its operations in the United Kingdom, Nigeria and Malaysia.

Going forward, Scomi said the group had set its course for sustainable and profitable growth and was in a better position today to capitalise on growth opportunities in the oil and gas and, transportation sectors.

The group will continue to maintain relentless focus on execution, cost management and building organisational capabilities for competitive support. -- Bernama