Perisai Q2 profit falls on Rubicone idleness

Perisai Petroleum Bhd’s net profit dropped significantly to RM961,000 from RM24.06m previously due to its Rubicone(Mobile Offshore Production Unit) remaining idle for the second quarter to June 30.
This was on the back of a 66.31%drop in revenue to RM10.78m.
 Perisai had already suffered a loss of RM2.98m in the first quarter to March 31, 2014,compared with a net profit of RM23.68m previously, also because the Rubicone and its derrick pipe-lay barge,Enterprise 3 (E3) lay idle.
For the six-month period, Perisai was in the red, recording losses of RM2.03m from a
previous profit of RM47.74m and revenue dropped 66% to RM21.65m.