PETALING JAYA: Dialog Group Bhd recorded a 5.1% improve in internet revenue to RM132.17 million within the first quarter ended Sept 30 (Q1 FY2024) from RM125.79 million a 12 months in the past.
The built-in technical service supplier for the oil and gasoline sector mentioned its improved efficiency was primarily contributed by its worldwide operations and better share of outcomes from joint ventures and associates.
Quarterly income was 9.7% larger at RM780.4 million from RM711.7 million, in accordance with its bourse submitting in the present day.
Its worldwide operations reported larger income and better internet revenue after tax from elevated gross sales of specialist services and products in varied international locations, and elevated actions at Jubail Provide Base, Saudi Arabia.
“The engineering, building, fabrication and plant upkeep actions in Singapore and New Zealand additionally contributed positively to the group’s efficiency because of the improved enterprise setting.
“The share of outcomes from joint ventures and associates for the present quarter was additionally larger in comparison with final 12 months, attributable to elevated contributions from terminals operations because of larger tank storage occupancy fee,” it added.
As for its Malaysia enterprise, it mentioned earnings for the quarter was decrease, primarily because of downstream mission price overruns and losses attributable to challenges arising from the Covid-19 pandemic, battle in Ukraine, inflationary pressures, and manpower constraints.
“These sudden circumstances have precipitated extreme provide chain disruption, larger materials costs and labour prices,” it added.
Dialog mentioned the group, which is diversified throughout the upstream, midstream, and downstream companies of the vitality sector will stay targeted and steadfast within the pursuit of its key long-term methods.
“We stay assured our enterprise mannequin is effectively structured to handle and maintain the group by intervals of financial uncertainty, oil worth volatility and foreign money actions.
“Within the upstream enterprise, the overall outlook of the oil market continues to see an enchancment, following the disruption to demand attributable to world occasions.
“The group will proceed to develop its current upstream enterprise by the rejuvenation, redevelopment, and operatorship of manufacturing and mature oilfields,” it mentioned.
Wanting forward, its focus will proceed to be on the midstream enterprise, the continuing improvement of Pengerang Deepwater Terminals (PDT) into the most important petroleum and petrochemical hub for the Asia-Pacific area.
Spanning 1,200 acres with three terminal services and 19 berths, PDT is exclusive for its deepwater characteristic with the potential to function very giant crude carriers and Q-Max for liquified pure gasoline.
Dialog’s share worth closed 1 sen or 0.5% larger in the present day at RM2.11, giving it a market capitalisation of RM11.9 billion.