KUALA LUMPUR, Nov 16 — Dialog Group Bhd’s net profit for the first quarter (Q1) ended Sept 30, 2021 narrowed 11.5 per cent to RM128.81 million from RM146.62 million a year earlier, mainly due to higher project costs.
However, the oil and gas company’s revenue jumped 52.4 per cent to RM505.45 million compared with RM331.66 million in the same quarter previously, contributed by both Malaysian and international operations which saw an increase in business activities as economies reopened.
With operations diversified across the upstream, midstream and downstream businesses of the energy sector, the group remains confident that its business model is well structured enough to manage and sustain itself through periods of economic uncertainty, oil price volatility and currency movements.
“Dialog has maintained a very prudent approach and taken proactive steps in managing the group’s finances,” it said in a filing with Bursa Malaysia today. “Capital expenditure and operating expenses have been reviewed and cost reduction measures are ongoing without jeopardising our operations and service delivery to customers.”
Overall, the group said it is optimistic that economic activities will pick up and is confident that its performance will remain profitable for the financial year ending June 30, 2022. — Bernama
