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Dialog Group Q2 earnings up nearly 27% to RM115.7m


KUALA LUMPUR: Dialog Group Bhd posted earnings of RM115.76mil in the second quarter ended Dec 31, 2017, up 26.7% from the RM91.36mil a year ago.

Dialog, which is an integrated technical services provider to the oil and gas industry, announced on Wednesday the higher profit was mainly due to its Malaysian operations and increased contributions from its joint ventures and associations.

“In November 2017, the group's associate company, Pengerang LNG (Two) Sdn Bhd achieved its commercial operation and received the first commercial liquified natural gas (LNG) gas at its newly commissioned regasification terminal at the Pengerang Deepwater Terminal.

“This contributed to higher share of joint ventures and associates results for the current quarter,” it said.

Dialog said its revenue was marginally higher at RM857.42mil compared with RM856.78mil. Earnings per share 2.05 sen compared with 1.71 sen.

“The group’s profit before tax for the current financial quarter of RM144.8mil was 22.3% lower when compared to RM186.4mil recorded in the preceding quarter. Included in the preceding quarter’s results was a RM65.6mil fair value gain recorded on the disposal of a jointly controlled entity,” it said.

For the first half, its earnings jumped 60.2% to RM276.68mil from RM172.69mil. Revenue climbed 8.3% to RM1.636bil from RM1.51bil.

Corporate News , Oil & Gas

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