Dialog 2Q net profit up 25.7pct to RM35.99m

KUALA LUMPUR: DIALOG GROUP BHD []’s earnings rose 25.7% to RM35.99 million in the second quarter ended Dec 31, 2010 from RM28.63 million a year ago, due mainly to higher contribution from its engineering and CONSTRUCTION and plant maintenance activities in Malaysia and Singapore.

It said on Wednesday, Feb 16 that revenue slipped 2.5% to RM268.53 million from RM275.57 million in 2009. Earnings per share were 1.84 sen while net assets per share was 26.3 sen.

For the six months, earnings rose 24.3% to RM69.09 million from RM55.56 million. Revenue declined 8.9% to RM532.33 million from RM584.42 million.

Reviewing its performance for the quarter, Dialog said its specialist products and services for international operation also performed better in the current financial quarter.

Dialog added the Langsat Terminal (One) Sdn Bhd in Tanjung Langsat, Johor, where its phase one started operations in September 2009 and phase two in April 2010 had contributed positively to the group’s financial results in the current quarter.

On its prospects, Dialog said it would continue to grow its core businesses with recurring income, such as, its specialist products and services, and plant maintenance services while at the same time focusing resources on the expansion of its logistics and upstream businesses.

“The group will continue to expand its scope and capability for provision of expertise services to the upstream sector of the domestic oil and gas industry.

“We will continue to expand our geographic footprint and widen our presence in existing markets while penetrating new ones internationally. In line with a strengthening global oil and gas market, we will continue to focus on growing and developing our human capital and talent pool to cater for our rapid expansion.”

Barring any unforeseen circumstances, Dialog said it was optimistic that its performance would be favourable for the financial year ending June 30, 2011.