Hibiscus Petroleum posts RM116mil Q325 net loss on UK energy profits levy

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The Star 7h ago

Hibiscus Petroleum posts RM116mil Q325 net loss on UK energy profits levy - The Star

Quick Summary:

PETALING JAYA: Hibiscus Petroleum Bhd posted a net loss of RM115.97mil or loss of 15.4 sen a share for its third quarter ended March 31, of financial year 2025 (3QFY25), due to a one-off, non-cash deferred tax liability charge of RM167.3mil related to the UK's Energy Profits Levy (EPL).

For the nine months, Hibiscus' operating cashflows amounted to RM1.5bil, a 144% on-year increase compared to the same period in FY24.

"The Group is well-positioned to sell 9.1 MMboe of oil, condensate and gas for FY25, exceeding FY24’s volumes by 17%," it stated.