The company posted a profit of 70 million ringgit ($16.3 million) for the September quarter, down from a profit of 108.1 million ringgit a year ago.

The drop in profits came as revenue slipped from 636.5 million ringgit in the third quarter of 2014 to 559.5 million ringgit in the recent quarter.

Bumi Armada blamed the drop in revenue on lower utilisation rates of offshore support vessels and lower activity in the transport and installation (T&I) business.

Commenting