KUALA LUMPUR, Nov 23 — Serba Dinamik Holdings Bhd’s net profit rose to RM148 million in the third quarter ended September 30, 2020 (Q3 2020) from RM113.16 million in the same period last year.
Revenue for the quarter increased to RM1.48 billion from RM1.04 billion a year earlier due to strong activities from the operation and maintenance (O&M) segment, it said in a filing with Bursa Malaysia today.
It said O&M contributed 83.7 per cent of revenue in Q3 2020 due to higher activities from maintenance, repair and overhaul activity in the Middle East region such as Qatar, Oman and Bahrain as well as Malaysia.
“Inspection, repair and maintenance (IRM) activity also showed higher growth against Q3 2019, which represents 17.9 per cent year-on-year,” it said.
The Middle East region continued to be the highest revenue contributor to the company at the regional level with 64.3 per cent of the overall revenue for the quarter, it said.
Serba Dinamik said year-to-date net profit rose to RM429.59 million from RM355.76 million year-on-year while revenue increased to RM4.19 billion from RM3.17 billion a year earlier.
Moving forward, Serba Dinamik said it remained vigilant and positive in pursuing business opportunities as well as securing more market share, both domestic and internationally.
“The company is continuously servicing the existing contracts especially O&M contracts on hand without any significant disruption despite the current Covid-19 pandemic as most of our operations are essential industries such as oil and gas, power generation, as well as water and utilities,” it added. — Bernama