Datasonic 1Q earnings more than halve to RM7.4m

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KUALA LUMPUR (Aug 24): Datasonic Group Bhd's net profit more than halved to RM7.39 million in the first quarter ended June 30, 2018, from RM15.12 million a year ago, on the back of lower revenue.

Earnings per share fell to 0.55 sen from 1.12 sen last year, the security-related ICT group said in a filing with Bursa Malaysia today.

Quarterly revenue came in 18.83% lower at RM48.78 million against RM60.10 million previously, due to fewer deliveries of smart cards.

The group has declared a first interim dividend of one sen per share.

Barring any unforeseen circumstances, Datasonic said its prospects for growth are expected to be satisfactory in the 2019 financial year.

"The management has continuously negotiated for better competitive pricing for purchases of the required materials and services from suppliers coupled with the ongoing implementation of cost control initiatives in the administration of the group's operations," it added.

The group's order book stood at RM885 million as at June 30.

At 2.57pm, shares in Datasonic were trading lower by five sen or 6.02% at 78 sen, with 776,100 shares done, giving it a market value of RM1.05 billion.