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Deleum 3Q profit up 18% to RM14m

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Deleum 3Q profit up 18% to RM14m Empty Deleum 3Q profit up 18% to RM14m

Post by Cals Thu 14 Nov 2013, 21:19

Deleum 3Q profit up 18% to RM14m
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com   
Thursday, 14 November 2013 18:58
KUALA LUMPUR (Nov 14):  Deleum Bhd reported an 18% increase in third quarter net profit from a year earlier. This came on higher profit from its gas turbine and oil and gas support services divisions.

In a statement to the exchange today, Deleum said net profit rose to RM14.35 million in the third quarter ended September 30, 2013 from RM12.18 million. Revenue fell to RM108.8 million from RM125.02 million.

According to Deleum, its gas turbine unit had registered "provision of an offshore facility of RM7.7 million , write-back of impairment for doubtful debts of RM1.0 million and foreign exchange gains of RM0.8 million."

Cumulative nine-month net profit was higher at RM34.99 million compared to RM30.95 million a year earlier. Revenue fell to RM307.79 million from RM317.99 million.

Looking ahead, Deleum said the firm's contracts from Petroliam Nasional Bhd are expected to support the former's earnings.
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