Dialog Group Q3 net profit up 20.9% to RM143.7m

14 May 2019

Source: The Star Online



KUALA LUMPUR: Dialog Group Bhd's net profit rose by 20.9% to RM143.70mil in the third quarter ended March 31, 2019, boosted by share of profit of joint ventures and associates and also lower operating expenses.

It said on Tuesday the net profit increased from RM118.84mil a year ago. Its earnings per share were 2.55 sen compared with 2.11 sen.

However, its revenue fell by 26.6% to RM636.61mil from RM867.37mil. It declared an interim dividend of 1.5 sen a share.

According to notes to the accounts, its share of profit from joint ventures and associates rose to RM57.20mil from RM31.75mil. Operating expenses fell to RM530.18mil from RM756.29mil.

Dialog said revenue from Malaysian operations in the quarter was lower primarily due to the near completion of the engineering, procurement, construction and commissioning (EPCC) works in Pengerang Deepwater Terminals Phase 2 projects.

“However, the net profit after tax for the current quarter was higher mainly due to cost savings realised on completed projects and increased share of profit in joint ventures and associates.

“The group’s international operations’ revenue and net profit after tax was lower as compared to the corresponding quarter last year mainly due to reduced margin as a result of increased market competition,” it explained.

For the nine months, its earnings were flat at RM395.13mil compared with RM395.52mil in the previous corresponding period. Its revenue fell by 22.6% to RM1.93bil from RM2.50bil.

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