KUALA LUMPUR: Dialog Group Bhd registered a higher net profit of RM126.78 million for the fourth quarter ended June 30, 2023 from RM 118.25 million a year ago.
Its revenue grew marginally by 2.12 per cent to RM690,039 million from RM675,654 million previously.
Dialog posted a higher earnings per share of 2.25 sen from 2.10 sen previously.
For the cumulative period, the company's net profit was higher at RM510.52 million than the RM508.00 recorded in the previous year.
Group revenue jumped 29.43 per cent to RM3.00 billion from RM2.32 billion a year ago.
Dialog, in a Bursa Malaysia filing, attributed the increase in revenue to its upstream, midstream and downstream activities.
"The higher upstream revenue was mostly due to the offshore project implementation at Bayan field. The net profit from upstream business was however lower due to maintenance activities and higher operation costs," it said.
The company's midstream activities in Malaysia maintained a stable revenue stream through its operations in Dialog Terminal Langsat and Dialog Terminal Pengerang.
For the Malaysia downstream activities, Dialog said it remained busy with various engineering, construction, fabrication and plant maintenance projects.
In the upstream business, the company aims to expand and diversify business streams after having completed the acquisition of a 50.01 per cent stake in Pan Orient Energy (Siam) Ltd, the concessionaire and operator of Concession L53/48 onshore Thailand oilfield.
"Looking ahead our focus will continue to be on the midstream business, the ongoing development of Pengerang Deepwater Terminals (PDT) into the largest petroleum and petrochemical hub for Asia Pacific.
"Phase 3 of PDT has been designated for the development of more dedicated petroleum and petrochemical storage terminals for medium to long-term customers, potentially comprising energy traders, multinational energy companies, refineries, and petrochemical plants," it said.
