KUALA LUMPUR: Perdana Petroleum Bhd’s pre-tax profit declined to RM9.58 million in the first quarter (Q1) ended March 31, 2015 from RM22.36 million in the same period last year.
Revenue fell to RM69.51 million from RM87.27 million previously, it said in a filing to Bursa Malaysia today.
“The decrease in both turnover and profit before taxation is due to the lower vessel utilisation resulting from the slower work orders/contracts from the oil majors affected by the decline in crude oil prices,” it said.
On prospects, the group said it would continue to focus on stronger operational excellence and financial discipline. – Bernama