Serba Dinamik Q1 net profit rises to RM93mil
KUALA LUMPUR: Serba Dinamik Holdings Bhd’s net profit for the first quarter ended March 31, 2018 rose to RM92.73mil from RM77.32mil recorded in the same quarter last year.
In a filing with Bursa Malaysia yesterday, the company said revenue for the quarter increased 19.3%, year-on-year, (y-o-y) to RM730.83mil from RM612.42mil registered previously.
It said the higher revenue was due to strong activities in its operations and maintenance (O&M) and engineering, procurement, construction and commissioning (EPCC) segments.
The company said O&M accounted for 86.8%t of its revenue in the first quarter, rising to RM634.47mil from RM554.95mil previously, a 14.3% increase, y-o-y, due to higher activity in inspection, repair and maintenance of static equipment and structure in the Middle East.
Revenue in the segment was also boosted by a new contract in Turkmenistan, and increasing activity in its maintenance, repair and overhaul of rotating equipment. Revenue from EPCC stood at RM94.4mil, accounting for 12.9% of the group’s total revenue which was mainly derived from domestic activities,” it said.
Moving forward, the group added that it would grow in tandem with the overall market growth, both domestically and internationally.
Its recent acquisitions, including the Al-Sagar Engineering Group LLC and a stake in CSE Global Ltd, was is part of its intention to grow the company’s business and add value to existing business operations. — Bernama