Deleum Q3 profit soars, oil price makes it cautious

KUALA LUMPUR: Deleum Bhd’s net profit jumped 17.2% to RM16.8mil in the third quarter ended Sept 30 from RM14.3mil, but the company said it is “cautious” about its prospects amid plunging oil prices in the international market.

Brent crude oil futures, the benchmark price for products in Europe and Asia, have slumped 32% from a recent peak in June, on account of higher production and softer demand.