KUALA LUMPUR (May 16): Dialog Group Bhd's net profit for the third financial quarter ended March 31, 2017 (3QFY17) rose 20% to RM94.4 million from RM78.92 million a year ago, on higher contributions from the group’s joint ventures, particularly from the Pengerang Independent Terminals.

Its share of JV results for the quarter climbed 91% to RM28.6 million from RM15 million recorded a year ago, it said in a Bursa Malaysia filing today. Overall 3QFY17 revenue grew 42% to RM913.6 million from RM641.4 million.

It declared a dividend of 1.2 sen per share, to be paid on June 29, compared with one sen it paid out in 3QFY16.

Dialog said its operations in Malaysia were busy during 3QFY17, with engineering, construction and fabrication activities from various on-going projects such as the Pengerang Deepwater Terminal Phase 2, Jetty Topside works for Samsung in Pengerang and the construction of plasticizer plant for UPC Chemicals(M) Sdn Bhd in Kuantan.

Its international ops also recorded higher revenue due to increased engineering and construction activities in Singapore, and higher sales in specialist products and services in India, Russia and the Middle East.

For the nine months ended March 31, 2017 (9MFY17), it registerd a 24% rise in net profit to RM267.91 million from RM217 million, while revenue gained 33% to RM2.42 billion from RM1.82 billion.

On prospects, Dialog said with the on-going operations of Pengerang Deepwater Terminal Phase 1 and current construction of Phase 2, the group is now working towards securing new potential partners for Phase 3, which will include the development of more petroleum and petrochemical storage terminals.

Further development of the terminal will provide more opportunities for the group’s engineering, construction, fabrication and plant maintenance services, it said.

The group is also developing an industrial estate with a land area of approximately 170 acres that would support the development of further downstream petroleum and petrochemical industries in Pengerang. As for upstream, it is on the lookout for viable production assets, which may become available for possible acquisition.

It is optimistic of continuing to deliver a healthy performance for the full FY17.

Dialog shares closed slid two sen to RM1.90 today for a market capitalisation of RM10.2 billion. Year to date, the stock has gained 12%.