Dialog’s profit in 3Q18 grows 25.89%

Dialog Group Bhd posted 25.89% year-on-year (YoY) growth in profit to RM118.84 million for the third quarter ended March 31, 2018 (3Q18) as both its Malaysian and international operations reported higher profits.

In an exchange filing yesterday, the oil and gas support service provider noted the better performance in Malaysia was contributed by the midstream and downstream activities in particular by its engineering, construction and plant maintenance services for various projects.

The group’s financial performance for the current quarter included the consolidation of Langsat Terminals since these became subsidiaries in September 2017.

Upstream activities also contributed to the better financial results following the recent increase in the oil price, Dialog noted.

On the international front, the higher profits in the current reporting quarter against same period last year was mainly contributed by the increased activities at Jubail Supply Base, Saudi Arabia, and higher sales of specialist products and services in the Middle East, Thailand and India.

Dialog’s share of joint ventures and associates results for the current reporting quarter were also higher mainly with associate company, Pengerang LNG (Two) Sdn Bhd, achieving commercial operations and receiving its first commercial Liquefied Natural Gas (LNG) cargo at its newly commissioned regasification terminal at the Pengerang Deepwater Terminals in November 2017.

The group’s revenue for the three-month drops marginally to RM867.37 million from RM913.61 million made in 3Q17.