PETALING JAYA: Dialog Group Bhd registered a 34% higher revenue year-on-year (y-o-y) to RM856.78mil in its second quarter ended Dec 31, 2016, mainly attributed to its joint venture in the Pengerang Independent Terminals.
Dialog’s net profit for the quarter rose by about 17% to RM91.36mil from RM78mil.
In a filing with Bursa Malaysia, the company said its various ongoing projects such as the Pengerang Deepwater Terminal Phase 2, Jetty topside works for Samsung in Pengerang and the construction of a plasticiser plant for UPC Chemicals in Kuantan were instrumental in generating higher revenue contributions.
However, the oil and gas services firm said the higher revenue from these projects was partially offset by lower sales in specialist products and services.
Moving forward, Dialog has expressed its optimism in delivering a positive financial performance for its financial year ending June 30, 2017.
“With the ongoing operations of Pengerang Deepwater Terminal Phase 1 and current construction of Phase 2, the group is working towards securing new potential partners for subsequent phases, which will include the development of more petroleum and petrochemical storage terminals.
“The group is also developing an industrial estate with a land area of about 170 acres that would support the development of further downstream petroleum and petrochemical industries in Pengerang,” it said, adding that it remained open to any future acquisitions of viable production assets.
For its six-month period, Dialog’s revenue rose 28.4% y-o-y to RM1.51bil. In the same period, its net profit increased by 25.1% to RM172.69mil.
No dividend was proposed for the quarter.
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