KUALA LUMPUR: Dialog Group Bhd’s net profit for its first quarter ended Sept 30 rose 34.5% to RM44.54 million from RM33.09 million the year before even as revenue increased 35% to RM355.2 million from RM263.08 million.
The company attributed its improved performance to higher contribution from its operations in Australia and New Zealand. The consolidation of Fitzroy Engineering Ltd, a fabrication and multi-disciplined engineering company based in New Zealand, was also a major contributor to the increase, Dialog said.
Its Malaysian operations saw revenue rise 5% during the quarter as sales of specialist products and services were higher.
Contribution from its Asian operations rose significantly with higher revenue from specialist products and services recorded in various countries including Brunei, Oman, India, China and Indonesia. However, revenue from Singapore fell 35% due to lower plant maintenance works undertaken.
Earnings per share rose to 2.26 sen from 1.69 sen.
Dialog said the ongoing expansion of tank terminals in Tanjung Langsat, and the development of an independent deepwater terminal in Pengerang are expected to bring in short- to medium-term contributions from engineering and construction activities.
That’s on top of the long-term recurring income stream it will see when the tank facilities begin operating.
Dialog added that it is investing in upstream oil and gas opportunities, including the development and production of petroleum under the small field risk service contract.
“The group continues to grow its technical services, such as specialist products, engineering, procurement, commissioning and construction, and plant maintenance services,” the company said.
Dialog closed one sen higher to RM2.40 yesterday with 2.1 million shares traded.
This article appeared in The Edge Financial Daily, November 17, 2011.
The company attributed its improved performance to higher contribution from its operations in Australia and New Zealand. The consolidation of Fitzroy Engineering Ltd, a fabrication and multi-disciplined engineering company based in New Zealand, was also a major contributor to the increase, Dialog said.
Its Malaysian operations saw revenue rise 5% during the quarter as sales of specialist products and services were higher.
Contribution from its Asian operations rose significantly with higher revenue from specialist products and services recorded in various countries including Brunei, Oman, India, China and Indonesia. However, revenue from Singapore fell 35% due to lower plant maintenance works undertaken.
Earnings per share rose to 2.26 sen from 1.69 sen.
Dialog said the ongoing expansion of tank terminals in Tanjung Langsat, and the development of an independent deepwater terminal in Pengerang are expected to bring in short- to medium-term contributions from engineering and construction activities.
That’s on top of the long-term recurring income stream it will see when the tank facilities begin operating.
Dialog added that it is investing in upstream oil and gas opportunities, including the development and production of petroleum under the small field risk service contract.
“The group continues to grow its technical services, such as specialist products, engineering, procurement, commissioning and construction, and plant maintenance services,” the company said.
Dialog closed one sen higher to RM2.40 yesterday with 2.1 million shares traded.
This article appeared in The Edge Financial Daily, November 17, 2011.
