Friday 29 Mar 2024
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KUALA LUMPUR (Nov 30): Datasonic Group Bhd reported a 57.8% decline in net profit for its second financial quarter ended Sept 30, 2018 (2QFY19) to RM8.52 million from RM20.06 million a year ago, as a result of lower revenue due to a lower supply of smart cards.

Revenue for 2QFY19 came in 22.1% lower at RM57.3 million compared to RM73.56 million, the group said in a filing to Bursa Malaysia this afternoon.

For the first half of FY19 (1HFY19), Datasonic reported a 54.8% year-on-year drop in net profit to RM15.91 million from RM35.18 million, while revenue declined by 20.6% to RM106.09 million from RM133.67 million a year ago.

Earnings per share for 1HFY19 was lower at 1.18 sen, from 2.61 sen a year ago.

On its prospects, Datasonic's management said it has continuously negotiated for better competitive pricing for purchases of the required materials and services from suppliers coupled with the prevalent cost control initiatives in the administration of the group's operations.

"The group did not issue any profit forecast or profit guarantee for the current financial quarter under review. The order book as at Sept 30, 2018 was in the vicinity of RM836 million which would have a positive impact on revenue generation in future.

"The group incurred an outflow of RM14.31 million from operating activities in the financial period under review and an amount of RM16.84 million expended for capital expenditure on assets related to new projects. The prospects for growth are expected to be satisfactory in the financial year ending Mar 31, 2019, barring any unforeseen circumstances," it said.

At the noon market break today, Datasonic shares were unchanged at 45 sen, and for a market capitalisation of RM614.25 million.

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