KUALA LUMPUR: Oil and gas services firm player Dialog Group Bhd
’s net profit increased 20.37% to RM60.07mil for the first quarter ended Sept 30, supported by better margins on its international sales which were mostly denominated in US dollar.
Its revenue eased 0.9% to RM536.37mil.
Dialog said that the higher revenue from its Malaysian operations for the current quarter was mainly contributed by the engineering and construction activities from on-going projects.
“The works on Phase 2 of the Pengerang Deepwater Terminal are progressing as schedule. In addition, the group was also involved in various projects such as the MLNG Train 9 and SAMUR piping works,” it said.
Nonetheless, the improved revenue from these activities was offset by lower sales in specialist products and services and upstream activities.
On the international operations, it said while revenue recorded was lower, net profits were higher, mainly attributable to higher fabrication activities in New Zealand and better margins on sales of specialist products and services. Most of these were denominated in US dollar.
The group’s share of joint ventures and associates results for the current quarter of RM12.1mil was also more than double compared to RM5.4mil recorded in same period last year.
“This was due to the contribution from Pengerang Independent Terminal which has commenced its full operation and has fully leased out its storage capacity,” said Dialog.
Its share price closed 2 sen higher to RM1.64 on volume of 12.2 million shares.
