February 13, 2015
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February 10, 2015
Company Name: DIALOG GROUP BHD
|Research House: ALLIANCE||Price Call: HOLD||Target Price: 1.65|
KUALA LUMPUR: AlianceDBS Research expects Dialog Group Bhd to record stronger earnings in the second half of this year as Pengerang Phase 1A and 1B will be fully operational.
The research house said there was also additional earnings from the 20 per cent farm-in of the D35, D21 and J4 upstream fields, as well as, Jubail Supply Base operations.
It said the major earnings driver for the oil and gas services-related company would be Phase 2 of Pengerang from 2019 onwards.
"Further to this, we expect another 12-24 month wait for earnings to come through from the group's risk service contract, as well as, Bayan field redevelopment," it said in a note today.
AlianceDBS has maintained a "Hold" call on Dialog with a target price of RM1.65.
Yesterday, Dialog posted a higher pre-tax profit of RM107.03 million for the second quarter ended Dec 31, 2014, from RM82.19 million registered in the same quarter a year ago.
Revenue, however, fell to RM570.29 million from RM694.16 million previously due mainly to lower international revenue.
As at 9.45 am, Dialog's shares was two sen lower at RM1.68 with 1.371 million shares traded. -- BERNAMA