On a year-to-date basis, Deleum pre-tax profit rose by 5.2% to RM32.33 million for the current half-year period compared to RM30.75 million in the corresponding period which was largely due to higher segment results from the Maintenance, Repair and Overhaul (MRO) segment. The MRO segment recorded a positive result of RM2.1 million for the current half-year period compared to a loss of RM0.6 million for the corresponding period, mainly attributable to a larger contribution from Deleum Primera Sdn Bhd, a subsidiary acquired in October 2012.
The Group’s Power and Machinery segment continued its upward trend with a 27.6% growth in segment result from RM11.95 million in the corresponding quarter to RM15.24 million for the current quarter, attributed to higher revenue from deferred oil and gas projects from the previous quarter. Oilfield Services segment maintains its result for the current quarter at RM2.1 million.
Deleum Group Managing Director, Encik Nan Yusri observed: “The country’s mining sector is projected to expand by 5% in 2013, due to a recovery in the production of natural gas and supported by a higher output of crude oil and condensates. Based on the increased activities of PSC operators and contractors observed to date, Deleum is well positioned to participate in the expansion of the exploration and production activities. These developments will be beneficial to the overall performance of the Group for the remainder of the financial year.”
“We are optimistic about the prospects of the Group particularly after the recently awarded contracts and jobs comprising mainly the provision of slickline equipment and services for various PSCs as well as provision of our specialty chemicals.”
Nan Yusri added: “Whilst we continue to pursue growth and expansion in our businesses, we continue to reward our shareholders in line with our dividend policy by declaring the highest first interim single tier dividend of 6 sen per ordinary share, since our listing in 2007. The dividend will be payable to the shareholders on 25 September 2013.”