Perisai oh Perisai

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Perisai 2Q profit jumps 221% y-o-y, but flat q-o-q
Business & Markets 2012
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Wednesday, 15 August 2012 14:40

KUALA LUMPUR (Aug 15): PERISAI PETROLEUM TEKNOLOGI [] Bhd generated revenue of RM47.92 million for the current financial quarter ended June 30, 2012, which was an increase of RM31.01 million or 183% over RM16.91 million in April-June 2011.

In a filing to Bursa Malaysia on Wednesday, the company said the profit before tax for the current quarter amounted to RM26.27 million, which represented an increase of RM18.1 million or 221% over RM8.17 million seen in April-June 2011.

But compared to the previous quarter, the current quarter of RM26.27 million in pre-tax profit was only slightly higher than RM26.19 million achieved for the preceding quarter ended March 31, 2012.

For the six months to June 30, 2012, Perisai said it posted total revenue of RM94.43 million, an increase of RM60.37 million over RM34.06 million in the corresponding period in 2011.

The profit before tax for the six months amounted to RM52.46 million, which was an increase of RM37.05 million over RM15.41 million netted in the same period in 2011.

The company said the increase in revenue and profit was mainly due to the revenue and profit contributions from the Mobile Offshore Production Unit under Garuda Energy (L) Inc and the offshore support vessels under the Intan Group.

No dividend was declared for the current quarter.

Looking into the future, Perisai said its firm contracts are expected to realise greater revenue and profit for the current financial year.

Perisai’s recent entry into the offshore drilling segment is also expected to contribute to revenue and earnings growth of the group.