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Deleum Q1 profit falls

By  AOG Staff Thursday, 19 May 2016 05:21
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Malaysian oilfield service provider Deleum Berhad reported profit of RM11.5 million for Q1 2016, compared to RM11.9 million in the corresponding period.

The group’s power and machinery segment results eased by RM1.0 million to RM10.0 million, and oilfield services segment results was lower by RM0.2 million to RM2.3 million.

Deleum’s integrated corrosion solution unit recorded a reduced loss of RM0.6 million as compared to a loss of RM2.9 million in the corresponding period.

The challenging conditions in the first quarter are expected to remain for the rest of this financial year, the firm said, while it continues with the cost-saving measures. 

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