KUALA LUMPUR, May 14 — UMW Oil and Gas Corporation Bhd (UMW O&G) posted a lower pre-tax profit of RM42.46 million for the first quarter ended March 31, 2015 from RM58.3 million achieved in the same period last year.

However, revenue rose to RM312.49 million versus RM195.57 million, mainly due to the drilling services and oilfield services segments, the company said in a filing to Bursa Malaysia.

“The company is participating in various stages of tenders totalling 18, with a total bid value of RM3 billion.

“The financial performance of the drilling services segment will be dependent upon the success of these tenders,” the company said.

“Similarly, the performance of the oilfield services segment will be impacted by the softening in O&G activities in view that its customers are mainly operating in the O&G industry,” it added.

On profitability for 2015, the company said it would be affected by the slowdown in the O&G sector. — Bernama