KUALA LUMPUR (Feb 18): Gas Malaysia Bhd (KL:GASMSIA) posted an 8.03% increase in net profit for the fourth quarter, driven by higher natural gas sales volume, improved average natural gas contribution margins, and increased tolling fees.

Net profit for the fourth quarter ended Dec 31, 2024 (4QFY2024) rose to RM112.71 million, compared with RM104.33 million a year earlier, as revenue grew 14.12% to RM2.06 billion from RM1.8 billion.

On a per share basis, 4QFY2024 earnings increased to 8.78 sen from 8.13 sen, according to a filing with Bursa Malaysia on Tuesday.

The company declared a second interim dividend of 9.60 sen per share, amounting to RM123.26 million, payable on April 25. This brings total dividends to 15.91 sen per share, compared with 22.76 sen paid in FY2023.

For the full FY2024, Gas Malaysia’s net profit climbed 15.12% to RM441.39 million from RM383.4 million, despite registering a slightly lower revenue of RM8.04 billion, due to lower average natural gas selling prices.

Looking ahead, Gas Malaysia said it remains focused on enhancing operational efficiency, sustaining competitiveness, and exploring growth opportunities.

“The board expects the group to deliver a satisfactory performance for FY2025, while maintaining a cautious outlook given potential market uncertainty,” it added.

Shares of Gas Malaysia closed seven sen or 1.65% lower at RM4.18 on Tuesday, valuing the company at RM5.46 billion.