SERBA Dinamik Holdings Bhd’s net profit jumped to RM496.64 mil for the financial year ended Dec 31, 2019 (FY19) from RM391.48 mil in the preceding year.
Revenue soared 37.9% to RM4.53 bil from RM3.28 bil previously, mainly driven by the operation and maintenance (O&M) segment, the engineering services provider said in a filing with Bursa Malaysia yesterdy.
For the fourth quarter (4Q) of FY19, revenue surged 39.1% to RM1.36 bil from RM978 mil posted in the preceding year’s corresponding quarter.
The company, which provides services to the energy sector, said the O&M segment contributed 85.2%, or RM1.16 bil, to the group’s total 4Q revenue. This represented an increase of 32.7% compared to RM873.32 mil a year earlier, which was mainly due to higher activities from the maintenance, repair and overhaul (MRO) of rotating equipment activity in Qatar, United Arab Emirates, Bahrain and Malaysia.
Meanwhile, the company said its engineering, procurement, construction and commissioning (EPCC) segment contributed 10.6%, or RM143.93 mil, to the 4Q revenue, showing a significant increase of 38.7% from the RM103.74 mil recorded previously.
“The segment was mainly derived from the chlor-alkali plant in Tanzania and activity with Petronas Carigali Sdn Bhd in Malaysia,” it said.
In a press statement, group managing director and chief executive director Datuk Dr Mohd Abdul Karim Abdullah said the results exceeded the company’s internal targets for FY19 for both the top and bottom lines.
“Our strong results in both O&M and EPCC showcase our commitment and focus on our core capabilities and we will continue to expand further,” he said.
The company has declared a fourth interim dividend of 1.40 sen per share, to be paid on March 30, bringing total dividend for the year to 7.51 sen. – Feb 27, 2020, bernama
