Thursday 28 Mar 2024
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KUALA LUMPUR (May 31): Datasonic Group Bhd's net profit for the fourth quarter ended March 31, 2019 fell 33.19% to RM11.63 million from RM17.41 million a year earlier, on the back of lower revenue.

In a filing to Bursa Malaysia, Datasonic said revenue for the quarter dropped 12% to RM56.72 million versus RM64.64 million a year ago.

Earnings per share was 0.86 sen against 1.29 sen previously.

Datasonic declared a fourth interim dividend of 0.5 sen per share totalling RM6.75 million, to be paid on a date to be determined later.

Reviewing its performance, Datasonic said its revenue for the quarter was lower year-on-year (y-o-y) mainly as a result of lower supply of smart cards.

"Consequently, the current financial quarter recorded a lower profit from operations when compared with that of the corresponding quarter of the preceding financial year," it said.

For the financial year ended March 31 (FY19), Datasonic’s net profit fell 46% y-o-y to RM36.53 million from RM67.24 million on a 15% drop in revenue to RM219.56 million from RM258.6 million a year earlier.

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

"The prospects for growth are expected to be satisfactory in the financial year ending March 31, 2020, barring any unforeseen circumstances," it said.

At the midday break today, Datasonic dipped 1.1% or 0.5 sen to 45 sen with 170,500 shares traded.

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