Keyfield declares two sen dividend as quarterly earnings stay flat
Revenue rose 30.3% to RM172.47 million, but lower charter rates and higher vessel depreciation weighed on earnings.
Keyfield International Bhd recorded RM41.4 million in net profit for 3QFY2026, with earnings increasing just 0.13% despite stronger revenue. Its bourse filing showed that reduced charter rates offset the benefit of higher vessel utilisation.
The offshore support vessel provider announced its third interim dividend, setting the payout at two sen per share and payment for Jan 8.
For the quarter ending Sept 30, 2026, revenue climbed to RM172.47 million, a 30.3% gain against RM132.35 million a year earlier. Utilisation reached 89%, versus 81.4% previously, as demand improved. The corresponding quarterly net profit was RM41.34 million.
Keyfield linked weaker margins to a greater revenue share from anchor handling tug supply (AHTS) vessels, whose gross profit per chartered-day is lower. It also said its strategy involved moderating charter rates to attract more utilisation and increase market share.
Vessel depreciation added to earnings pressure, reaching RM17.6 million against the RM12.4 million recorded in 3QFY2025.
Across FY2026’s first nine months, revenue totalled RM333.17 million, down 5.1% against RM351.07 million in the corresponding period. Net profit was RM120.61 million, a 6% decline against RM128.38 million.
At the close, Keyfield traded at RM1.36, down four sen or 2.86%. Its market valuation stood at RM1.1 billion.
