Dialog Group closed its 2nd quarter ended 31st December 2023 with a revenue of RM859.2 million which was higher by 7.8% from RM797 million reported in the corresponding quarter last year. In line with the higher revenue, the Group’s net profit after tax jumped by 20.% to RM157.3 million from RM131.1 million.
Year to date revenue and net profit after tax for the current financial year were RM1,639.7 million and RM299.5 million, higher by 8.7 % and 19.2 %, respectively against same period last year. The better performances were contributed by both Malaysia and International operations.
In the current financial quarter, Dialog said the Malaysia operation recorded higher revenue and profit after tax mainly attributable to higher production from the upstream activities. The midstream activities continued to contribute a stable revenue stream to the Group from the operation of DIALOG Terminals Langsat and DIALOG Terminals Pengerang (5). The profit contribution from these activities for the current quarter have improved against the corresponding quarter last year due to increased occupancy rate.
It added the downstream team remained busy with various EPCC and plant maintenance projects. As some of these projects are near completion, the losses reported by the downstream activities for the current financial quarter have been reduced as compared with the corresponding quarter.
On the International front, the Group reported higher revenue and profit after tax from increased activities at Jubail Supply Base, Saudi Arabia. The engineering, construction, fabrication and plant maintenance activities in Singapore, Australia and New Zealand, and sales of specialist products and services in various countries also contributed positively to the Group’s better performance in the current financial quarter due to the improved business environment.
Barring any unforeseen circumstances, the Group is optimistic of its positive performance in the financial year ending 30 June 2024.
