KUALA LUMPUR: Dialog Group Bhd’s net profit increased 15.52 per cent to RM158.01 million in the second-quarter (Q2) ended December 31, 2019 from RM136.78 million previously.
In an exchange filing today, Dialog said the earnings were generated from higher contributions from its share of profit on joint ventures and associates, terminal business and increased plant services activities and profitable international operation.
Its Q2 revenue rose 0.4 per cent to RM612.31 million from RM609.61 million a year ago, driven by higher engineering, construction, fabrication and plant services activities and increased specialist products and services sales.
For the first-half of the year, Dialog’s net profit jumped 28.33 per cent to RM322.65 million from RM251.42 million. Group revenue decreased 3.08 per cent to RM1.26 billion from RM1.30 billion a year ago.
Dialog remains confident that its well-structured business model would manage and sustain itself through periods of economic uncertainty, oil price volatility and currency movements.
“The ongoing development of Pengerang Deepwater Terminals (PDT) will continue to take centre stage for oil, gas and petrochemical players who are looking to capture Asia Pacific demand growth over the next 30 years,” it said, referring to its midstream sector.
It said PDT offered a compelling value proposition for the establishment of strategic hub operations given its ideal location and one-stop integrated hub offering.
In the downstream sector, the company said it would continue to leverage on its strengths and established track record in integrated technical services comprising engineering, procurement, construction and commissioning, plant maintenance and catalyst handling services, and specialist products and services.