KUALA LUMPUR, Feb 26 — Serba Dinamik Holdings Bhd’s net profit jumped to RM496.64 million for the financial year ended Dec 31, 2019 (FY19) from RM391.48 million in the preceding year.
Revenue soared 37.9 per cent to RM4.53 billion from RM3.28 billion previously, mainly driven by the operation and maintenance (O&M) segment, the engineering services provider said in a filing with Bursa Malaysia today.
For the fourth quarter (Q4) of FY19, revenue surged 39.1 per cent to RM1.36 billion from RM978.0 million 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 per cent, or RM1.16 billion, to the group’s total Q4 revenue. This represented an increase of 32.7 per cent compared to RM873.32 million 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 per cent, or RM143.93 million, to the Q4 revenue, showing a significant increase of 38.7 per cent from the RM103.74 million 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.
He said the company’s other products and services led by its information technology division had also expanded and contributed considerably in 2019.
“Additionally, with the 12 contracts recently secured in Malaysia, Indonesia and Oman early in the year, we strongly believe this will give us a fruitful year ahead and hopefully, Serba Dinamik will hit another peak for the financial year ended 2020,” 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. — Bernama
