New first quarter… right? - annoyed
Serba Dinamik Holdings Bhd recorded a net loss of RM42.11 million or 1.14 sen per share for the first quarter ended September 30, 2021 (1QFY22) which was its first quarter loss since listing in early 2018.
It was down from a net profit of RM14.92 million or 0.40 sen per share recorded in the previous quarter (4QFY21).
No year -on -year comparison figures are available as the group has changed its final financial year from Dec 31 to June 30.
According to exchange filings, the losses during the quarter were due to higher operating expenses, finance costs and foreign exchange losses.
Revenue for the quarter was RM799.35 million which decreased 33.8% from RM1.21 million in 4QFY21.
According to the group, revenue from its operations and maintenance segment contributed RM742.9 million to overall revenue with a gross profit margin of 8.5% and a gross profit of RM63.5 million.
In addition, the engineering, procurement, construction and commissioning segments contributed RM52.3 million in revenue with a gross profit margin of 8.3% and a gross profit of RM4.3 million.
Next, the information communication technology and education & training segments contributed RM1.8 million and RM2.4 million in revenue and gross profit of RM346,000 and RM795,000 respectively.
Serba Dinamik said the Middle East region remained the highest revenue contributor at the regional level with 70% or RM559.15 million from Qatar (RM415.76 million) and the United Arab Emirates (RM128.83) while the rest came from Southeast Asia with 28.9% or RM231. .09 million, Central and South Asia with 0.8% or RM6.2 million and the United Kingdom at RM2.91 million.
Serba Dinamik added that its business environment remains challenging due to the crisis it is currently experiencing as a result of its incomplete statutory audit.
Trading in Serba Dinamik shares has been suspended since Oct. 22. It last traded at 35 sen, giving the group a market capitalization of RM1.3 billion.
