Dialog Q2 net profit jumps 26%

PETALING JAYA: Dialog Group Bhd saw second quarter ended Dec 31, 2017 net profit jump 26% on its Malaysian operations and increased contributions from the group’s joint ventures and associates.
It recorded a net profit of RM115.8 million for the quarter under review, compared with RM91.4 million for the same quarter in 2016.
This was despite revenue for the quarter being only marginally higher at RM857.4 million, compared with RM856.8 million for the same quarter in 2016.
In November 2017, the group’s associate company, Pengerang LNG (Two) Sdn Bhd achieved its commercial operation and received the first commercial Liquefied Natural Gas (LNG) cargo 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.
The group said as a leading integrated technical services provider to the upstream, midstream and downstream sectors in the oil, gas and petrochemical industry, it remains confident that its strategy and well structured business model can withstand the current oil price volatility and currency movements to post a strong financial performance in financial year 2018.
It also said that it is actively developing new reserves from the existing contracts on the lookout for viable production assets, which may become available for possible acquisition in the upstream segment.
The group will continue to grow its core businesses with recurring income especially in expanding its terminal business.
For the six month ended Dec 31, 2017, the group made a net profit of RM276.7 million, up 60% compared with RM172.7 million for the six month period ended Dec 31, 2016.
Revenue for the period was up 8.3% to RM1.6 billion, compared with RM1.5 billion for the same period in 2016.
The group's share price was up five sen to close at RM2.66, with some eight million shares changing hands.