Serba Di­namik net profit surges to RM96.7m in Q4

New Straits Times - - Business / News - Farah Adilla

KUALA LUMPUR: Serba Di­namik Hold­ings Bhd posted a 116.5 per cent in­crease in net profit to RM96.70 mil­lion in the fourth quar­ter ended De­cem­ber 31 last year, from RM44.66 mil­lion in the same pe­riod a year ago.

Group rev­enue rose 43.1 per cent to RM731.77 mil­lion, from RM511.51 mil­lion pre­vi­ously.

Serba Di­namik said this was mainly driven by its op­er­a­tions and main­te­nance seg­ment, which con­trib­uted 86.5 per cent to group rev­enue, fol­lowed by its en­gi­neer­ing, pro­cure­ment, con­struc­tion and com­mis­sion­ing seg­ment with a 13.5 per cent.

At the pre-tax level, profit grew 114.8 per cent to RM103.92 mil­lion, from RM48.38 mil­lion pre­vi­ously.

For the full fi­nan­cial year, Serba Di­namik’s net profit rose 61.32 per cent to RM252.57 mil­lion, from RM156.56 mil­lion pre­vi­ously.

Group rev­enue stood at RM2.16 bil­lion, an in­crease of 53.6 per cent, from RM1.4 bil­lion in 2015.

Group man­ag­ing di­rec­tor and chief ex­ec­u­tive di­rec­tor Datuk Dr Ir Mohd Ab­dul Karim Ab­dul­lah said its rev­enue was mainly de­rived from for­eign op­er­a­tions. Mid­dle East con­trib­uted 47.3 per cent to to­tal rev­enue for the pe­riod un­der re­view, he added.

“Our lo­cal op­er­a­tions re­mained the largest con­trib­u­tor at 34.7 per cent to our rev­enue.

“Ac­cord­ingly, it is one of our fu­ture plans upon list­ing to up­grade the ex­ist­ing lo­gis­tics cen­tre in Ras Al Khaimah, the United Arab Emi­rates,” he said.

Serba Di­namik re­cently, through wholly-owned Serba Di­namik Sdn Bhd, signed a share pur­chase agree­ment to buy a 40 per cent stake in Kon­sor­tium Amanie Joint Ven­ture for RM34 mil­lion.

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