Last Friday (Feb 24), Perisai announced a net profit of RM10.25 million for 2QFY17, from a net loss of RM724.58 million in the same period last year. This had also marked Perisai’s first quarterly net profit, after four consecutive quarters of losses. Revenue for 2QFY17 fell 30.7% to RM38.27 million, due to discount on charter rates for its vessel Perisai Pacific 101, a result of crude oil price drop. Perisai changed its financial year end from Dec 31, 2016 to June 30, 2017. At 11 a.m., Perisai shares were trading up 0.5 sen (7.1%) to 7.5 sen, with a trading volume of 46.09 million shares and a market capitalisation of RM107.14 million.

Source: The Edge Markets February 27, 2017 03:45 UTC