KUALA LUMPUR: Carimin Petroleum Bhd said the Covid-19 lockdown in June affected the group’s revenue in second quarter, but its outlook for the rest of the year remained positive.

“Our outlook remains positive given the resumption and continuation of project activities in spite of the prevailing circumstances,” it said in a filing today.

Carimin on Monday posted a net profit of RM2.1mil for the three-month ended June 30 compared with with a loss of RM4.4mil made a year ago.

Revenue, however, dropped by a third to RM40.7mil from RM60.9mil previously.

“The disruptions caused by the lockdown due to the pandemic at the project sites resulted in deferment of our onshore/offshore activities,” it said.
Despite the lower revenue, the group managed to return to the black following finalisation of projects and cost rationalisation.