Dialog’s net profit up to RM114m on better Malaysia’s op

by TMR

Dialog Group Bhd registered a higher net profit for the second quarter (2Q) ended June 30, 2018 on the back of an improved contributed from its Malaysian operations.
In an announcement to Bursa yesterday, Dialog noted its net profit rose 10.9% year-on-year (YoY), or RM11.3 million, to RM115 million as local operations particularly from the engineering, construction and plant maintenance service divisions showed stronger performance.
Revenue for the period was lower by 37.3% YoY at RM607 million due to reduced engineering, construction and plant maintenance activities on the international market.
Moving forward, Dialog is optimistic the development of the Pengerang deepwater terminals phase 3 and future phases will provide more business opportunities as will its newly acquired Langsat Terminals. The group is also actively developing new reserves from the existing contracts in the upstream sector.
The company recommended a final dividend of 1.80 sen per share in respect of the current financial year for approval, subject of the shareholders’ approval at the forthcoming AGM.