Serba Dinamik nets sixfold profit jump
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.