Serba Di­namik nets six­fold profit jump

New Straits Times - - Business | News -

KUALA LUMPUR: Serba Di­namik Hold­ings Bhd’s net profit rose more than six­fold to RM83.16 mil­lion in the sec­ond quar­ter ended June 30 from RM13.66 mil­lion a year ago.

This was mainly due to higher profit con­tri­bu­tion from its op­er­a­tion and main­te­nance seg­ment, said Serba Di­namik in a state­ment yes­ter­day.

The in­te­grated en­gi­neer­ing ser­vices provider’s rev­enue in­creased 6.09 per cent to RM649.7 mil­lion, mainly driven by its en­gi­neer­ing, pro­cure­ment, con­struc­tion and com­mis­sion­ing (EPCC) seg­ment, which con­trib­uted 16.97 per cent to its to­tal rev­enue.

Its op­er­a­tions and main­te­nance (O&M) seg­ment re­mained the largest con­trib­u­tor with 82.88 per cent of to­tal rev­enue.

Pos­i­tive con­tri­bu­tion from projects in the United Arab Emi­rates, as well as its hy­dro plant and wa­ter treat­ment plant projects in Sabah and Tereng­ganu, re­spec­tively, were also part of the earn­ings growth for the com­pany for the cur­rent quar­ter.

“We are pleased with our per­for­mance in the first six months, which was in line with our ex­pec­ta­tions for fi­nan­cial year 2017 as a whole.

“Malaysia re­mains the main con­trib­u­tor to the group’s rev­enue with 24.2 per cent,” said group man­ag­ing di­rec­tor and Datuk Mohd Ab­dul Karim Ab­dul­lah in the state­ment.

“We are go­ing strong in the Mid­dle East re­gion, which gen­er­ated 61.14 per cent of the group’s to­tal rev­enue de­spite the re­cent com­pli­ca­tions in the gulf,” he added.

The com­pany de­clared a first in­terim sin­gle-tier tax-ex­empt div­i­dend of 1.5 sen per share, payable on Septem­ber 20.

Datuk Mohd Ab­dul Karim Ab­dul­lah

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