KUALA LUMPUR, Feb 19 — Dialog Group Bhd’s net profit increased to RM148.29 million in the second quarter ended Dec 31, 2023 (Q2 FY2024), from RM127.15 million in the previous corresponding quarter due to higher production from its upstream activities.
Revenue rose by 7.8 per cent to RM859.21 million during the quarter under review from RM797.01 million previously.
In a filing to Bursa Malaysia, the group said its midstream activities continued to contribute a stable revenue stream from the operation of Dialog Terminals Langsat and Dialog Terminals Pengerang.
“The profit contribution from these activities for the current quarter has improved against the corresponding quarter last year due to increased occupancy rate,” it said.
On the international front, Dialog reported higher revenue and profit after tax from increased activities at the 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,” it said.
Moving forward, the group said it would remain focused and steadfast in pursuing its key long-term strategies.
“With our dedicated management team, we remain confident that our business model is well structured to manage and sustain the group through periods of economic uncertainty, oil price volatility and currency movements,” it added. — Bernama