The increase was largely due to improved contributions made by all segments, which recorded higher segment results by RM21.6 million from RM40.6 million for FY2011 to RM62.2 million for FY2012. Significant contribution derived from the Power and Machinery (“P&M”) segment increased by 49.6% to RM58.1 million (FY2011: RM38.9 million) while the Oilfield Services segment increased by 32.1% to RM5.1 million (FY2011: RM3.8 million).
For the 4th quarter results, the pre-tax profit surged by 54.6% to RM19.3 million compared to the corresponding quarter of RM12.5 million. The increase was mainly attributable to the increased results recorded by the P&M segment on the back of higher revenue and the improved performance of the Maintenance, Repair and Overhaul segment following the inclusion of Deleum Primera Sdn Bhd’s (formerly known as Northern Primera Sdn Bhd) post acquisition results.
Deleum Group Managing Director, Encik Nan Yusri, said, “FY2012 represents another milestone year for Deleum in terms of achieving our best financial results since listing subsequent to the realignment of our business segments. The FY2012 results also demonstrate the Group’s business focus and strategy to capitalise on the growing opportunities in the domestic oil and gas industry and the constant effort of expanding our businesses, organically and via merger and acquisitions, continue to pay off.”
As per the dividend policy, Deleum has declared a second interim dividend of 10.0 sen dividend per ordinary share which will be payable to the shareholders on 25 March 2013. Including the first interim dividend of 5.0 sen per share which was paid on 20 September 2012, the total declared dividend in respect of FY2012 is 15.0 sen per ordinary share, notwithstanding the share capital of Deleum was enlarged from 100 million to 150 million ordinary shares, subsequent to the bonus issue which was completed on 11 June 2012. (A total of 14.0 sen dividend per ordinary share on 100 million ordinary shares was paid out in respect of FY2011.)
Encik Nan Yusri added: “Under the Economic Transformation Programme, one of the country’s main economic drivers is the oil and gas industry encompassing strategies to reverse the decline in production by improving recovery from existing oilfields, development of marginal fields and adding to the resource base. PETRONAS and its contractors are expected to spend heavily on capital and operating expenditures moving forward which will underpin the oil and gas industry resulting in more activities and contracts to be awarded. Deleum is poised to seize the opportunities provided.”
“We are aware of the challenges ahead, however, we are committed to continuously improve the Group’s performance by undertaking various initiatives to enhance our competitive position and to capitalise on the forthcoming opportunities, locally and regionally.”