Dialog's Q4 earnings up 32.9%

PETALING JAYA: Dialog Group Bhd's net profit soared 32.9% to RM103.55 million for the fourth quarter ended June 30, 2017 compared with RM77.93 million in the previous corresponding period, driven by higher contribution from its joint ventures.

Revenue was up by 35.1% from RM717.09 million to RM968.95 million.

Dialog has proposed to declare a final dividend of 1.45 sen per share for the quarter under review.

The group told Bursa Malaysia, with the on-going operations of Pengerang Deepwater Terminal Phase 1 and current construction of Phase 2, it is now working towards expanding Phase 1 as well as securing new potential partners for Phase 3, which will include the development of industrial land and more petroleum and petrochemical storage terminals.

"Phase 3 and future phases will be developed on about 800 acres comprising reclaimable land and the buffer zone. Further development of the Pengerang Deepwater Terminal will provide more opportunities for the group's engineering, construction, fabrication and plant maintenance services," it noted.

In the upstream sector, Dialog is actively developing new reserves from the existing contracts as well as on the lookout for viable production assets, which may become available for possible acquisition.

Barring any unforeseen circumstances, the group is optimistic that it will continue to deliver a strong performance for the financial year ending June 30, 2018.

Dialog's full-year net profit expanded 25.7% from RM294.93 million to RM370.64 million. Revenue came in at RM3.39 billion, 33.9% higher than RM2.53 billion it made a year ago.

The counter closed unchanged at RM1.93, on some 11.89 million shares done, giving it a market capitalisation of RM10.9 billion.