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Serba Dinamik posts 500% profit jump

KUALA LUMPUR: Serba Dinamik Holdings Bhd’s second quarter earnings ended June 30, 2017, soared more than 500% to RM83.15mil year-on-year.

Revenue rose more than 300% to RM649.7mil from RM151.95mil in the previous corresponding period.

The operation and maintenance (O&M) segment made a contribution of RM538.5mil or 82.9% to total revenue. Malaysia, Qatar and Bahrain were the biggest country contributors to this segment, which recorded operating profit of RM95.8mil.

Engineering, procurement, construction and commissioning (EPCC) was the most improved segment in terms of revenue and profit compared to the immediate preceding quarter, with contributions that rose 95% and 115% respectively.

EPCC contributed RM110.3mil or 17% to total revenue and recorded an operating profit of RM20.1mil.

The revenue was “mainly derived from operations in United Arab Emirates through contracts with New Thunder Technical Services as well as from One Power River Sdn. Bhd. for the construction of mini-hydro power plant in Kota Marudu, Sabah and Konsortium Amanie JV Sdn Bhd for the construction of the water treatment plant in Terengganu,” the company said in its statement.

Other revenue amounting to RM950,000 was derived from other products and services such as the provision of IT-related services and technical training programmes.

The company has declared a dividend of 1.5 sen per share with ex and payment dates on Aug 28 and Sept 20 respectively.

At midday, the counter was trading lower by 2 sen or 1.05% at RM1.89 on volume of 2.1 million shares.–thestar.com.my

 

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