Posted by Jimmy Song > 2013-11-20 08:44 | Report Abuse

DAYA MATERIALS Q3 REVENUE SOARS 95% Revenue of RM142.4 million and PAT of RM7.1 million for the Q3FY2013 KUALA LUMPUR, 19 NOVEMBER 2013 – Daya Materials Berhad (“DMB” or the “Group”) announced its third quarter results for its financial year ended 30 September 2013 (Q3FY13) with a revenue of RM142.4 million, representing an increase of 95% as compared to financial year ended 30 September 2012 (Q3FY12) of RM 72.9 million. The Group’s Q3FY2013 profit after tax (PAT) of RM7.1 million recorded a growth of 13% against its Q3FY12 of RM6.3 million. The increase in revenue, the largest ever recorded by the Group, was mainly due to continued strong contributions from subsea and E&C businesses. DMB’s financial performance to date for its nine months of its financial year ended 31 December 2013 (FY2013) has registered a revenue and PAT of RM373.6 million and RM19.3 million respectively, representing an increase of 109% and 29% which shows a tremendous growth, compared to the preceding nine months of its financial year ended 31 December 2012 (FY2012) of RM178.6 million and RM15 million respectively. In terms of the Group’s segmental performance to date, the Group has recorded higher revenue in the Oil & Gas Segment of RM85.5 million for the quarter ended 30 September 2013, indicating a significant increase in revenue by 515% from RM13.9 million recorded in the previous year corresponding quarter. Higher revenue in the current quarter in the Oil & Gas Segment was mainly due to sales recognition on the offshore cable laying project. The revenue on the Polymer Segment for the quarter ended 30 September 2013 was recorded at RM 4.5 million, an increase of 13% from RM 4.03 million recorded in the previous year corresponding quarter. Consequently, the increase in revenue in the Polymer Segment has resulted in a segment profit of RM 121 thousand for the quarter ended 30 September 2013. The Group achieved lower revenue on Technical Services segment of RM 52.3 million for the quarter ended 30 September 2013, a slight decrease of 5% as compared to RM 54.9 million recorded in the previous year corresponding quarter. The Group is expecting delivery of its second OSCV, Siem Daya 2 in December 2013.