Dialog 1Q net profit up 5% to RM49.9m

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KUALA LUMPUR (Nov 18): Dialog Group Bhd's net profit rose 5% to RM49.9 million for its first financial quarter ended Sept 30, 2014 (1QFY15) from RM47.7 million a year ago, thanks to higher contribution from its Malaysian operations.

Revenue for 1QFY15, however, declined almost 6% to RM541.5 million from RM575.5 million a year ago, which the group attributed to lower contribution from its international operations.

"Low activities experienced in engineering, construction and plant maintenance in Singapore and fabrication in New Zealand, had resulted to the overall drop in international revenue by 17% for the current quarter under review," it said in a Bursa Malaysia filing this evening.

Revenue from its Malaysian operations was higher by 8% mainly contributed by the operation of the production sharing contract for three fields in offshore Sarawak, engineering and construction activities for the deepwater terminal in Pengerang and increased fabrication activities.

Looking ahead, Dialog said it is poised to benefit from the positive outlook on the oil and gas industry, and expects to "deliver a healthy performance" for FY15.

Dialog shares closed 3 sen lower at RM1.50 today, with a market capitalisation of RM7.4 billion.