August 30, 2018 / 5:04 AM / 10 months ago

Malaysia's Petronas says Q2 profit nearly doubles, boosts payout to govt

KUALA LUMPUR, Aug 30 (Reuters) - Malaysian state-owned energy firm Petroliam Nasional Berhad posted a near doubling of quarterly profit, helped by higher oil prices, and said it will increase its dividend payout to the government this year.

Petronas, as the company is known, on Thursday said profit for the second quarter totalled 13.63 billion ringgit ($3.32 billion), up from 7.06 billion ringgit a year earlier.

Revenue increased 14.7 percent to 59.24 billion ringgit.

The company, which is known to be conservative with its outlook, said it expects full-year performance to be “satisfactory.”

“The group will maintain its prudent view on the outlook and will continue to emphasise on productivity and growth strategies,” Petronas said in a statement.

Chief Executive Officer Wan Zulkiflee Wan Ariffin said Petronas will pay the Malaysian government, the company’s sole shareholder, a dividend of 24 billion ringgit this year, up from the 16 billion ringgit last year.

$1 = 4.1050 ringgit Reporting by Emily Chow and A. Ananthalakshmi; Editing by Christian Schmollinger

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