Dialog’s 4Q net profit drops 14.65% to RM118m

The integrated technical service provider’s revenue, however, increases by 29.4% to RM675.65m

by ANIS HAZIM / TMRgraphic

DIALOG Group Bhd’s net profit in the fourth quarter ended June 30, 2022 (4Q22), fell 14.65% to RM118.25 million compared to RM138.54 million last year, mainly due to higher project costs and losses in some of the projects.

Earnings per share dropped to 2.1 sen from 2.46 sen.

In a filing to Bursa Malaysia yesterday, the integrated technical service provider said its revenue, however, rose by 29.4% to RM675.65 million from RM522.14 million a year ago, contributed by both Malaysian and international operations on the back of increased business activities. 

For the full-year period ended June 30 (FY22), net profit declined by 6.47% to RM508 million against RM543.14 million in FY21.

Annual revenue, on the other hand, surged slightly by 44.38% to RM2.32 billion from RM1.61 billion last year.

On a quarterly basis, the group’s net profit tumbled by 11.14% from RM133.07 million reported in 3Q22 while revenue increased by 13.86% from RM593.43 million in 3Q22.

Barring any unforeseen circumstances, the group is confident that its performance will remain profitable for FY23.

“Moving forward, we will actively look for opportunities to increase our development and production services and assets, while incorporating new technologies to manage greenhouse gas emissions,” it said.

Additionally, the group will remain focused on the ongoing development of Pengerang Deepwater Terminals into the largest petroleum and petrochemical hub for the Asia Pacific region.

Dialog’s share price closed unchanged at RM2.42 yesterday, valuing the group at RM13.66 billion.