KUALA LUMPUR, 30 NOVEMBER 2021 – Deleum Berhad’s (“Deleum” or the “Group”), a provider of a diverse range of supporting specialised products and services to the oil and gas industry, reported a pre-tax profit of RM14.7 million in the nine months ended 30 September 2021 (“9MFY2021”), a marginal decline from nine months ended 30 Septembers 2020’s (“9MFY2020”) RM14.9 million.
The 9MFY2021’s result was commendable despite recording a lower revenue of RM366.5 million compared to last year’s corresponding period of RM432.2 million. Improvement in results in 9MFY2021 compared to 9MFY2020 was supported by better operating performance recorded from the Oilfield Services (“OS”) segment and the absence of impairment charges.
Turnover for the quarter ended 30 September 2021 (“Q3FY2021”) fell by 4.5% year-on-year (“YoY”) to RM137.5 million against the quarter ended 30 September 2020’s (“Q3FY2020”) RM144.0 million due to the decline in business activities reported by its OS and Integrated Corrosion Solution (“ICS”) segments. Q3FY2021’s pre-tax profit fell 94.4% compared to Q3FY2020 due to weaker operating performance across all business units.
The Group’s total cash position including investment securities remained healthy at RM202.2 million as at 30 September 2021. Gearing ratio was low at 0.1 times at the end of the period under review.