PETALING JAYA: Dialog Group Bhd’s net profit rose 15.2% to RM41.5 million for 2QFY12 ended Dec 31, on a 34% increase in revenue of RM358.6 million during the quarter.
The higher earnings were mainly due to the consolidation of the revenue of the newly acquired fabrication and multi-disciplined engineering company, New Zealand-based Fitzroy Engineering Group Ltd. For 6MFY12 ended Dec 31, 2011, revenue from its operation in Australia and New Zealand was RM142.2 million, or 20% of the group’s total revenue during the period.
“Contribution from Malaysia and Asia operations such as Brunei, Thailand, Oman and China, also increased significantly, mainly due to higher revenue of specialist products and services. The Singapore operation, however, registered lower revenue mainly due to fewer jobs undertaken by its engineering and construction and plant maintenance [divisions],” the group said in the announcement.
For 6MFY12, revenue from its Malaysian operation stood at RM316.9 million with an operating profit of RM90.2 million, while revenue from Singapore stood at RM57.2 million and an operating profit of RM11.3 million. Operating profit from Australia and New Zealand was at RM5.5 million, on the back of RM142.2 million of revenue, while profit from other parts of Asia was RM2.4 million against RM193.7 million in revenue.
On current year prospects, Dialog said the development of the oil and gas (O&G) industry under the Economic Transformation Programme (ETP) will generate tremendous opportunities for the local O&G players. It said that being an integrated technical service provider for the oil, gas and petrochemical industry, the group is poised to benefit from the opportunities.
“The ongoing expansion of tank terminals in Tanjung Langsat and the development of an independent deepwater terminal in Pengerang will not only bring in short- to medium-term contribution from engineering and construction in Malaysia, but also long-term recurring income when the tank facilities are operational.
“In addition, the group is investing in upstream oil and gas opportunities, including the development and production of petroleum under the small field risk service contract (SFRSC). The group continues to grow its technical services, such as its specialist products and services, engineering, procurement, commissioning and construction and plant maintenance services,” it said.
Dialog’s share price traded one sen lower yesterday at RM2.44, with only 5.9 million shares traded. Year-to-date, the stock has risen by 1.73% from RM2.39 on Jan 3, 2012, while it has risen by 27.28% in the 52 weeks from RM1.91 on Feb 14, 2011. The stock declined to RM1.74 in September last year and has since climbed nearly 40%.
This article appeared in The Edge Financial Daily, February 15, 2012.
The higher earnings were mainly due to the consolidation of the revenue of the newly acquired fabrication and multi-disciplined engineering company, New Zealand-based Fitzroy Engineering Group Ltd. For 6MFY12 ended Dec 31, 2011, revenue from its operation in Australia and New Zealand was RM142.2 million, or 20% of the group’s total revenue during the period.
“Contribution from Malaysia and Asia operations such as Brunei, Thailand, Oman and China, also increased significantly, mainly due to higher revenue of specialist products and services. The Singapore operation, however, registered lower revenue mainly due to fewer jobs undertaken by its engineering and construction and plant maintenance [divisions],” the group said in the announcement.
For 6MFY12, revenue from its Malaysian operation stood at RM316.9 million with an operating profit of RM90.2 million, while revenue from Singapore stood at RM57.2 million and an operating profit of RM11.3 million. Operating profit from Australia and New Zealand was at RM5.5 million, on the back of RM142.2 million of revenue, while profit from other parts of Asia was RM2.4 million against RM193.7 million in revenue.
On current year prospects, Dialog said the development of the oil and gas (O&G) industry under the Economic Transformation Programme (ETP) will generate tremendous opportunities for the local O&G players. It said that being an integrated technical service provider for the oil, gas and petrochemical industry, the group is poised to benefit from the opportunities.
“The ongoing expansion of tank terminals in Tanjung Langsat and the development of an independent deepwater terminal in Pengerang will not only bring in short- to medium-term contribution from engineering and construction in Malaysia, but also long-term recurring income when the tank facilities are operational.
“In addition, the group is investing in upstream oil and gas opportunities, including the development and production of petroleum under the small field risk service contract (SFRSC). The group continues to grow its technical services, such as its specialist products and services, engineering, procurement, commissioning and construction and plant maintenance services,” it said.
Dialog’s share price traded one sen lower yesterday at RM2.44, with only 5.9 million shares traded. Year-to-date, the stock has risen by 1.73% from RM2.39 on Jan 3, 2012, while it has risen by 27.28% in the 52 weeks from RM1.91 on Feb 14, 2011. The stock declined to RM1.74 in September last year and has since climbed nearly 40%.
This article appeared in The Edge Financial Daily, February 15, 2012.
