KUALA LUMPUR (Aug 11): Serba Dinamik Holdings Bhd posted a net profit of RM82.88 million in the second quarter ended June 30, 2017 (2QFY17), a 7.18% increase from RM77.33 million in 1QFY17, mainly due to higher profit contribution from its operation and maintenance (O&M) segment.

Quarterly revenue for 2QFY17 came in at RM649.7 million, up 6.09% from RM612.4 million in 1QFY17. O&M remained the largest contributor of revenue, with a 82.9% contribution.

Serba Dinamik also declared a dividend of 1.5 sen per share for the financial year ending Dec 31, 2017 (FY17), payable on Sept 20.

For the first-half period (1HFY17), Serba Dinamik reported a net profit of RM160.2 million on revenue of RM1.26 billion.

Serba Dinamik group managing director Datuk Dr Mohd. Abdul Karim Abdullah said Malaysia remained the main contributor to the group's revenue, with a 24.2% contribution.

“[This is] mainly from both our O&M services and engineering, procurement, construction and commissioning (EPCC) contracts for mini hydro power plants in Kota Marudu, Sabah, and water treatment plant in Kuala Terengganu," he said in a statement today.

“Meanwhile, we are going strong in the Middle East  region, which generated 61.14% of the group’s total revenue despite the recent Qatar-Gulf complication,” he added.

Nevertheless, he said the group remains optimistic that it can strengthen its business viability and profitability, given the continued confidence received from its existing and new clients.

“We have recently successfully secured six  work contracts, locally and internationally through two of our wholly-owned subsidiaries, Serba Dinamik International Ltd and Serba Dinamik Sdn. Bhd.

“With its total contract value of RM522.92 million, it will keep us on track achieve the target we have set to ensure the group’s sustainability,” he said.

At 4.25pm, Serba Dinamik shares were up 3 sen or 1.6% to RM1.94, bringing a market capitalisation of RM2.6 billion.