Serba Dinamik posts RM83.16 million profit in Q2

PETALING JAYA: Serba Dinamik Holdings Bhd registered a net profit of RM83.16 million for the second quarter ended June 30, 2017, driven by its operations and maintenance (O&M) segment.
Its revenue stood at RM649.7 million.
The group has proposed to declare an interim dividend of 1.5 sen for the quarter under review.
Serba Dinamik said in a filing with the stock exchange that in order to ensure the group's continued sustainability, it plans to leverage on its core competencies of operating within both the oil & gas and power generation industries as well as expanding into water treatment and utilities.
The group noted that the O&M segment is expected to remain as the major revenue contributor, while the engineering, procurement, construction and commissioning segment will see increased growth for 2017.
"Overall, the management is optimistic about the future prospects including our business presence in Qatar which will lead the company to successfully meet its targets for the year. The management is also of the view that the group will continue to generate positive result for 2017," it opined.
For the first six months of the year, Serba Dinamik's net profit reported a net profit of RM161.49 million, with revenue standing at RM1.26 billion.
At 3.10pm, the stock rose five sen to RM1.96 on some 5.73 million shares traded, bringing it a market capitalisation of RM2.62 billion.