Serba Dinamik Q1 net profit 18% higher

PETALING JAYA: Serba Dinamik Holdings Bhd’s net profit for the first quarter ended March 31 jumped 18.3% to RM92.65 million from RM78.33 million a year ago thanks to contribution from its operation and maintenance (O&M) segment.
The group recorded revenue of RM730.83 million, which was 19.3% higher than RM612.42 million in the corresponding quarter of the preceding year due to strong activities from both O&M and engineering, procurement, construction and commissioning.
“The group’s recent acquisitions of companies are part of the group’s intention to grow the business. The companies acquired are complement or expansion of our product offerings as well as provide us with access into new segments and geographical market,” it said.
Serba Dinamik said that acquisitions of a 49% stake in Al-Sagar Engineering Group LLC and a 24.8% equity stake in CSE Global Ltd are expected to enhance the group’s financial position as well as profitability.