Dialog Group posts higher net profit in Q2


16 February 2019

Source: New Sabah Times English (KK)

 

Dialog Group posts higher net profit in Q2

KUALA LUMPUR: Dialog Group Bhd posted a higher net profit of RM136.78 million in the second quarter ended Dec 31, 2018, against RM I 15.76 million chalked up in the same period in 2017.

Revenue, however, fell to RM609.61 million from RM857.42 million previously, the integrated technical services provider said in a filing with Bursa Malaysia on Thursday.

"Revenue from Malaysian operations for the current quarter was lower, primarily due to the near completion of the engineering,procurement, construction and commissioning works in Pengerang Deepwater Terminals(PDT) Phase 2 projects," it said.

On prospects. Dialog remained confident that its business model was well-structured to manage oil price volatility and currency movements.

It said the ongoing operations of PDT Phase I are in the midst of being expanded by 430,000 cubic metres.

Meanwhile, Phase 2A, the dedicated petroleum and petrochemicals terminal for Refinery and Petrochemical Integrated Development (RAPID), commenced its initial stages of commercial operations in November 2018.

"Dialog remains committed to enhancing efficiency and productivity by incorporating new technologies and improving business processes to remain competitive, moving forward," it added. -Bernama