- Revenue and profit after tax grew as compared to Q3 2014
- YTD performance remains strong year-on-year
Kuala Lumpur, 23 November 2015 – Kuala Lumpur, 23 November 2015 – Dagang NeXchange Berhad (“DNeX”) today announced that it posted revenue of RM23.0 million in the quarter ended 30 September 2015 (“Q3 2015”) or 6.3 per cent increase as compared to revenue of RM21.7 million in the quarter ended 30 September 2014 (“Q3 2014”).
The Group registered a profit after tax of RM4.7 million in Q3 2015 or 43.3 per cent increase as compared to its profit after tax of RM3.3 million in Q3 2014.
Its performance in the nine months ended 30 September 2015 also showed steady increase with revenue of RM67.6 million and profit after tax of RM11.8 million as compared to revenue of RM60.9 million and profit after tax of RM11.3 million in the same period last year.
The constant positive EBITDA of RM24.9 million in the nine months ended 30 September 2015 and RM26.2 million in the same period last year had contributed the necessary funding for the Group to grow its business portfolios in both Energy and Information Technology sectors when opportunities arise. The current year result was affected by a one-off payment of RM5.7 million to undertake a staffing rationalisation exercise in the first quarter of financial year 2015.
DNeX’s sustained improved performance was a result of an increase in its Trade Facilitation business, and adoption of effective cost management and operational efficiency in all areas of business. The Group’s diversification into oil, gas and energy also continued to register revenue through rental of directional drilling equipment.
“Having completed a financial turnaround in 2014, DNeX has been registering continued improvements in its performance this year where we have also managed to place initial building blocks for the Group’s diversification into oil, gas and energy in its journey to become a serious player in this sector,” said En Zainal Abidin Jalil, Group Managing Director of DNeX.
He added that the current market downturn in oil and gas sector presents attractive opportunities for the Group to build scale in its diversification in this sector as cost of entry is lower.
Also in the pipeline in the Group’s diversification into oil, gas and energy sector is the completion of proposed acquisition of OGPC Group, and proposed acquisition of 30 per cent equity of Ping Petroleum Limited, projected to contribute positively to its future earnings and enhance shareholders’ value in the medium to long term.