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Dayang Enterprise Q3 net profit soars to RM48.75 mln

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KUALA LUMPUR: Dayang Enterprise Holdings Bhd’s net profit surged to RM48.75 million in the third quarter ended Sept 30, 2018 (Q3 2018) from RM1.12 million in the same period last year. Revenue also improved to RM281.93 million from RM212.80 million previously.In a filing to Bursa Malaysia yesterday, Dayang Enterprise said the bullish performance was mainly due to higher work orders received and performed under the topside maintenance contracts.

Moving forward, the company expressed optimism that the turnaround in its earnings would be sustainable, premised on its fairly sizeable order book of RM3 billion to last it until 2023. “We are cautiously confident that our balance sheet will continue to improve significantly as the impressive financial performance in the third quarter has indirectly demonstrated the financial discipline undertaken to turn around the company,” it said. –Bernama

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