Posted by Jimmy Song > 2013-08-21 00:41 | Report Abuse

DAYA MATERIALS DELIVER YET ANOTHER STRONG QUARTER Revenue of RM231 million and EBITDA of RM22.7 million for the 1st Half 2013 KUALA LUMPUR, 20 AUGUST 2013 – Daya Materials Berhad (“DMB” or the “Group”) announced its second quarter results for its financial year ended 30 June 2013 (Q2FY13) with a revenue of RM131 million, representing an increase of 31% as compared to its last quarter of RM 100.1 million. The Group’s Q2FY2013 profit after tax (PAT) of RM7.1 million recorded a growth of 42% against its previous quarter of RM5 million. The increase in revenue was mainly due to the higher progress billing from Tapis subsea project in the O&G segment as well as our technical services segment. DMB’s financial performance to date for its first half of its financial year ended 31 December 2013 (1HFY2013) has registered a revenue and PAT of RM231 million and RM12.1 million respectively, which shows a tremendous growth, compared to the preceding first half of its financial year ended 31 December 2012 (1HFY2012) of 105 million and 8.6 million respectively. In terms of the Group’s segmental performance to date, the largest contribution came from the oil & gas segment with a revenue of RM114 million which contributed 49% of the revenue year to date. This resulted in the best quarterly result in DMB’s history in terms of top line revenue. The Groups polymer segment contributed a revenue RM11.7 million, translating into 6% of the revenue year to date. For its Technical Services Segment, the Group recorded a revenue of RM105 million, which contributed 45% of the total revenue to date. Commenting on the results, Mr. Nathan Tham, Group Managing Director said “Our efforts in venturing upstream oil & gas in the past 12 months have resulted in significantly improved contributions from this sector. This will be the largest component of revenue source and is expected to continue to grow going forward. ” On the 16 August 2013, DMB had entered into a Charter Party Contract (the Contract) with Technip Norge AS of Norway for the provision of an offshore subsea construction vessel together with a range of offshore services on a long-term charter basis for the North Sea and North Atlantic Regions. The Contract is worth up to RM400 million with a charter period of 7 years (up to 175 days per year). The Contract is expected to be completed by 2020. “Securing this contract gives us the assurance that our business focus and investment efforts have been strategically driven on the right track. This contract also provides us the opportunity to expand our business footprint out of the Asia region and to build on a long term working relationship with our Norwegian counterparts.” Mr. Tham commented. Going forward we foresee our oil and gas segment to be one of the leading growth drivers contributing to our profit growth and business expansion.” he further added.