The integrated technical service provider to the energy sector said this rise was due to higher production from upstream activities.

Revenue in FY2024 appreciated 5% to RM3.15 billion compared to RM3 billion previously.

For the fourth quarter of FY2024 (Q4 2024), the company’s net profit increased 9% to RM138.42 million from RM126.78 million, while revenue gained 17.4% to RM810.07 million from RM690.04 million previously.

Dialog stated that midstream activities continued to contribute a stable revenue stream and generate profit for the group through the operations of Dialog Terminals Langsat and Dialog Terminals Pengerang.

“The downstream team remained busy completing various engineering, procurement, construction and commissioning (EPCC) and plant maintenance projects, and reported losses for the current quarter and financial year caused by project cost overruns.

“The group is facing many challenges brought on by the Covid-19 pandemic, conflict in Ukraine and Gaza, inflationary pressures, supply chain disruption, higher material prices, and labour costs,” it said in a filing with Bursa Malaysia.

On prospects, Dialog said it will continue to grow its existing upstream business through the rejuvenation, development, and operatorship of oil and gas fields.

“In the downstream business, we will continue to leverage our strengths and established track record in integrated technical services comprising EPCC, plant maintenance and catalyst handling services, and specialist products and services,” it said.