Serba Dinamik posts RM1.9 bil revenue for Q3FY17

Serba Dinamik posts RM1.9 bil revenue for Q3FY17
MOHD ABDUL KARIM: We are one step closer within our internal expectations as the revenue projected for 9MFY17 stood at RM1.9 billion. --Filepix
KUALA LUMPUR: Serba Dinamik Holdings Berhad and its subsidiaries announced the group's financial results for the third quarter ended 30 September 2017, posting an increase of 27.7 percent in revenue at RM653.3 million.

This is compared to RM511.5 million recorded in the preceding year’s corresponding quarter ended September 30, 2016.
Consequently, both Profit Before Tax (PBT) and Profit After Tax (PAT) rose by 77.3 percent at RM85.8 million and 46.5 percent at RM67.0 million, respectively, for Q3FY17 as compared to RM48.4 million and RM45.8 million recorded in Q3FY16.

Group Managing Director / Group Chief Executive Director of Serba Dinamik Holdings, Datuk Ir Mohd Abdul Karim Abdullah said, “We are one step closer within our internal expectations as the revenue projected for 9MFY17 stood at RM1.9 billion. We are also positive for the future prospects of the company, as the recent announcement for the establishment of a chlor-alkali plant in Tanzania marks our first step into Africa."
Serba Dinamik's improved revenue was mainly driven by the Group’s operations & maintenance (O&M) segment, which remained the largest contributor for the Group, with a total contribution of RM567.9 million, while the Group’s engineering, procurement, construction and commissioning (EPCC) segment contributed RM84.1 million to the total revenue for Q3FY17.

Datuk Karim added, “This year has been a good year for us. We have experienced rapid growth and have successfully expanded our global footprint. We have great plans ahead of us, and we remain optimistic that we can further strengthen the Group’s business viability and profitability.

Both O&M and EPCC showed significant improvement of 21.1 percent and 108.7 percent, respectively, in Q3FY17 as compared to RM468.8 million and RM40.28 million recorded for the Q3FY16.

The Group’s O&M segment revenue was mainly derived from South East Asia and the Middle East region as well as increase in activity from Turkmenistan from the additional contract, while EPCC’s improved performance is mainly attributed to the construction of water treatment plant in Terengganu, and inclusion of the contract with New Thunder Technical Services from the United Arab Emirates (UAE).

In respect of the financial year ending December 31, 2017, the Board of Directors has declared a third interim single-tier tax exempt dividend of 1.50 sen per ordinary share, to be paid on 20 December 2017.

The entitlement date for the dividend payment is December 7, 2017.