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Serba Dinamik posts record high net profit of RM387.9m in FY18

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KUALA LUMPUR (Feb 27): Serba Dinamik Holdings Bhd’s net profit soared to record high in the fourth quarter ended Dec 31, 2018 (4QFY18), thanks to an increase in activities in the operation and maintenance (O&M) segment.

The company announced that its net profit climbed 39% to RM109.29 million, or 7.44 sen per share, for 4QFY18, compared with RM78.57 million or 5.89 sen per share a year ago.

Quarterly revenue stood at RM978 million, up 21.21% from RM806.87 million in 4QFY17, according to Bursa Malaysia today, .

The company’s O&M segment registered higher operating profit of RM163.28 million in 4QFY18, 28.91% higher compared with RM126.66 million a year ago.

The group declared a fourth interim single tier dividend of 2.3 sen per share, payable on March 28.

For the full year ended Dec 31, 2018 (FY18), the company saw its net profit grow 25.9% to RM387.9 million, or 26.61 sen per share, registering another year of record high net profit, from RM308.87 million or 23.59 sen a share last year.

Revenue for FY18 was 20.6% higher at RM3.28 billion, versus RM2.72 billion a year ago.

Moving forward into 2019, the company is expecting to strengthen its position in the Middle East, South East Asia and Central Asia region which have contributed to the company’s earnings for the past years.

“With the penetration into Laos, more contribution is expected from South East Asia in 2019,” said Serba Dinamik.

Additionally, with its expansion into Africa in Tanzania and Central Asia in countries such as Turkmenistan, Kazakhstan and Uzbekistan in 2018, the company is expecting more contribution from these two regions for 2019 as the company looks to expand its presence in the respective markets.

Noting that the group is also looking into the prospect of Industry 4.0 by leveraging on technology and digitalisation, Serba Dinamik said its collaboration with Microsoft as well as acquisition of a 30% stake in eNoah iSolution India Pte Ltd is expected to enhance its IT capabilities moving towards Industry 4.0.

Overall, the management is optimistic about the group’s prospects and views that the group will continue to generate positive results in future, said Serba Dinamik.

Serba Dinamik’s shares closed up three sen or 0.76% at RM3.96 today, valuing the company at RM5.82 billion.

[Source: “Serba Dinamik posts record high net profit of RM387.9m in FY18” published by The Edge Markets]
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