KUALA LUMPUR: Off the back of strong third-quarter earnings results, Datasonic Group Bhd says it has a positive outlook on its current financial year ending March 31,2020.
In a statement, the technology solutions company said it is "cautiously optimistic" that the results of its current financial year will be an improvement over the previous financial year despite the economic challenges and uncertainties in the business environment.
"With the order book of RM611mil, along with the on-going supply of passport chips and MyKad orders, and the additional scope of work and projects for the supply and maintenance services for auto gates nationwide and Malaysia-Singapore border, our business outlook is good,” said Datasonic chairman Tan Sri Mohamed Hashim Mohd Ali.
For the recently concluded quarter, Datasonic's net profit jumped 124.3% to RM20.18mil as compared to RM9mil in the previous corresponding quarter.
This was on the back of 32.1% higher revenue of RM74.97mil versus the comparative quarter.
"The strong results were largely driven by higher supplies of national ID and consumables, passports and provision of personalisation services," said the company.
It declared a third interim single tier tax-exempt dividend of one sen per share.
For the nine-month period to Dec 31, 2019, the group recorded a cumulative net profit of RM48.05mil, which was 92.6% higher than the sum of RM24.91mil posted in the previous corresponding period.
Earlier this year, Datasonic won an open tender for the supply of equipment, software and application for 16 units of foreigner e-gate with facial recognition system to the Immigration Department.
As at 12.30pm, Datasonic's share price rebounded 14 sen to RM1.18 on the back of 2.77 million shares traded.
This comes after the share lost 25.71% in Wednesday trading, which resulted in an unusual market activity query from Bursa Malaysia.
https://www.thestar.com.my/business/business-news/2020/02/27/datasonic-q3-net-profit-jumps-124-y-o-y-cautiously-optimistic-over-outlook
