Dialog 4Q profit flat, but sets new full-year record

by **Cals** Fri 22 Aug 2014, 12:40

Business & Markets 2014

Written by Kamarul Anwar of theedgemalaysia.com

Friday, 22 August 2014 09:05

KUALA LUMPUR: Oil and gas and engineering player Dialog Group Bhd set another new record in full-year profitability for the group in the financial year ended June 30 (FY14), despite a flat year-on-year (y-o-y) net profit of RM52.24 million for its final quarter (4QFY14).

For its full FY14, it achieved an 11.68% net profit growth to RM215.87 million on revenue of RM2.55 billion; both record highs for the group. FY13’s net profit was RM193.30 million while revenue was RM2.24 billion.

In a filing with Bursa Malaysia yesterday, the group announced a dividend payout of 1.1 sen per share, half the 2.2 sen per share it paid out in 4QFY13.

In a separate filing on its 4QFY14 results, the group’s revenue for the quarter dropped by 5.42% to RM643.73 million from RM680.59 million in 4QFY13, mainly because its international operations suffered a drop in revenue as a result of lower plant maintenance, engineering and construction (E&C) activities in Singapore.

As for its full FY14 net profit growth, Dialog said: “This was achieved following the better performance from both Malaysia and international operations and an overall increase in contribution from joint-venture companies.”

The group said its Malaysian operations reported higher revenue for both 4QFY14 and the full year, thanks to E&C activities at the Independent Deepwater Terminal project in Pengerang and the Bitumen Terminal project in Tanjung Langsat in Johor.

“In addition, higher sales of specialist products and services, and increased fabrication and plant maintenance activities had also contributed to the better performance by its Malaysia operations in the quarter and financial year under review,” said Dialog.

Dialog said its international operations’ FY14 revenue growth was mainly contributed by stronger sales of specialist products and services in the Middle East, India, Africa and Thailand.

This article first appeared in The Edge Financial Daily, on August 22, 2014.