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UMW O&G turns in Q1 profit of $17m
New Malaysian offshore services listing UMW Oil & Gas (UMW O&G) justified investors' confidence, turning in a first quarter net profit of MYR53.68m ($16.7m) on revenue of MYR195.57m, according to a stock market release.
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Kalyakan - stock.adobe.com
It added that group profit exceeded the 2013 quarterly average of MYR51.7ml by 12.8%, with the drilling services segment being the main contributor to the profit increase.
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