KUALA LUMPUR (Nov 21): Deleum Bhd’s shares fell 5.56% this morning after the group reported that its third quarter net profit fell 15.6% to RM9.12 million, from RM10.8 million a year earlier, despite the rise in oil prices during the period.

At 9.25am, Deleum fell 6 sen to RM1.02 with 234,700 shares traded.

The group attributed this to lower operating results from all business segments and the unfavourable foreign exchange movements during the quarter. 

Quarterly revenue, however, was up 4.6% to RM175.44 million, from RM167.79 million, the group said in a statement.

For the nine-month period ended Sept 30, 2018, Deleum recorded a net profit of RM19.69 million compared with RM18.82 million in the previos corresponding period.

Revenue saw an increase of 16.2% to RM423.24 million from RM364.21 million, thanks to the maintenance, construction and modification contracts secured in late 2017.