Dialog net profit up 18% to RM137m in second quarter

14 February 2019

Source: Thesundaily



PETALING JAYA:Dialog Group Bhd’s net profit for the second quarter ended Dec 31, 2018 rose 18.15% to RM136.78 million from RM115.76 million a year ago, driven by its Malaysian operations.

In a filing with Bursa Malaysia, the group said its Malaysian operations recorded higher net profit during the quarter mainly due to cost savings realised on completed projects and increased share of profit in joint ventures and associates.

However, its international operations recorded lower net profit mainly due to reduced margins as a result of increased market competition.

Revenue for the quarter fell 28.90% to RM609.61 million from RM857.43 million a year ago due to lower revenue from its Malaysian operations as the engineering, procurement, construction and commissioning works in Pengerang Deepwater Terminals (PDT) Phase 2 project neared completion.

For the six months ended Dec 31, 2018, net profit fell 9.13% to RM251.42 million from RM276.69 million a year ago while revenue fell 20.51% to RM1.30 billion from RM1.64 billion a year ago.

“We are pleased to report that the group has continued to deliver on its commitment to grow sustainable, recurring income and enhance shareholders’ value. With the completion of the PDT Phase 2A and 2B, and the refinery projects at RAPID, we are now actively involved in the plant maintenance services for these projects,” executive chairman Tan Sri Dr Ngau Boon Keat said in a statement today.

“The group has continued to make progress for Phase 3 as well - land reclamation activities are in progress and is scheduled for completion at end of 2019, and we are in active discussions with potential customers for Phase 3. Barring any unforeseen circumstances, the group is confident that its performance will remain strong for the financial year ending 30 June, 2019,” he added.

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