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NewsDeleum 1Q net profit falls 32% to RM7 mil
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Deleum 1Q net profit falls 32% to RM7 mil
by Cals Wed 22 May 2013, 19:57
Deleum 1Q net profit falls 32% to RM7 mil
Business & Markets 2013
Written by Zatil Husna of theedgemalaysia.com
Wednesday, 22 May 2013 19:19
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KUALA LUMPUR (May 22): DELEUM BHD []’s first quarter net profit declined 32% compared to a year earlier on higher operating cost.
In a filing to Bursa Malaysia, the oil and gas (O&G) support-services provider said it recorded a net profit of RM6.84 million for its first quarter ended March 31, 2013 compared to RM10.02 million previously.
The group’s revenue rose to RM86.5 million from RM82.78 million. "The group’s revenue was primarily contributed by the power and machinery segment," Deleum said.
On prospects, the group said its performance for the quarter in review was in tandem with lower orders secured and the deferment of certain projects by O&G operators in Malaysia.
The group said the ongoing outlook for the local O&G industry is satisfactory with production-sharing contractors stepping up effort to increase the recovery rate of producing fields and development of new fields.
“These developments are positive to the group's prospects and we are well positioned to compete for the upcoming opportunities,” it said.
Business & Markets 2013
Written by Zatil Husna of theedgemalaysia.com
Wednesday, 22 May 2013 19:19
A + / A - / Reset
KUALA LUMPUR (May 22): DELEUM BHD []’s first quarter net profit declined 32% compared to a year earlier on higher operating cost.
In a filing to Bursa Malaysia, the oil and gas (O&G) support-services provider said it recorded a net profit of RM6.84 million for its first quarter ended March 31, 2013 compared to RM10.02 million previously.
The group’s revenue rose to RM86.5 million from RM82.78 million. "The group’s revenue was primarily contributed by the power and machinery segment," Deleum said.
On prospects, the group said its performance for the quarter in review was in tandem with lower orders secured and the deferment of certain projects by O&G operators in Malaysia.
The group said the ongoing outlook for the local O&G industry is satisfactory with production-sharing contractors stepping up effort to increase the recovery rate of producing fields and development of new fields.
“These developments are positive to the group's prospects and we are well positioned to compete for the upcoming opportunities,” it said.
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» Deleum's pre-tax profit rises to RM75.591 mln
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