KUALA LUMPUR: Deleum Bhd's net profit for the second quarter ended June 30, 2010 fell to RM4.12 million from RM8.15 million due to lower activities level as well as approved gratuity payments to the directors following their retirement as executive directors, the company said on Monday, Aug 16.

It declared a first interim 3.5 sen single tier tax exempt dividend per ordinary share in respect of the financial year ending Dec 31, 2010.

Its revenue for the quarter declined 22.6% to RM82.88 million from RM107.1 million a year earlier. Earnings per share dipped to 4.12 sen from 8.15 sen.

On its prospects, the company said that even though the economic environment has shown some improvement with stabilised crude oil prices from an average of US$53 (RM168) per barrel in the previous year to an average of US$70 per barrel in the first six months of this year, there does not appear to be any significant increase in activities.

?Thus, for the remainder of the current financial year, the board is of the view that current level of activities will prevail,? it said.