KUALA LUMPUR (Nov 10): Dagang Nexchange Bhd’s (DNeX) net profit soared to RM2.44 million or 0.31 sen a share for its third quarter ended Sept 30, 2014, as compared to RM90,000 in the same quarter the year before.

Revenue for the quarter under review was up 7% year-on-year (y-o-y) at RM21.67 million, from RM20.23 million a year earlier.

For the cumulative nine month period to Sept 30, net profit more than tripled to RM7.95 million or 1.03 sen a share from RM2.41 million, while revenue fell to RM60.86 million from RM65.68 million previously.

“DNeX’s continued improved performance was a result of an increase in its trade facilitation business, and adoption and implementation of management processes, and operational efficiency in all areas of business,” said executive deputy chairman Datuk Samsul Husin in a press release.

DNeX recently launched a centralised online trade financing service, myTrade2Cash, via a collaboration with Maybank.

“Targeted at exporters namely small and medium enterprises (SMEs), myTrade2Cash is expected to streamline, simplify and improve access to trade finance for exporter SMEs,” said Datuk Samsul.

Going forward, the company said customers can expect more new e-commerce services from DNeX in the future.

The counter closed 1 sen or 2.63% lower at 37 sen, translating to a market capitalisation of RM286.84 million.