KUALA LUMPUR (Aug 30): Datasonic Group Bhd saw its net profit jump 89.5% to RM14.01 million for the first financial quarter ended June 30, 2019 (1QFY20) from RM7.39 million a year ago, 

This resulted in a higher earnings per share of 1.04 sen for 1QFY20 compared with 0.55 sen for 1QFY19.

Quarterly revenue also increased 19.6% to RM58.32 million from RM48.78 million a year ago.

In a bourse filing today, the group declared a first interim dividend of 0.75 sen per share for the financial year ending March 31, 2020 (FY20), of which the entitlement and payment will be announced in due course.

Going forward, Datasonic said the prospects for growth are expected to be satisfactory for FY20.

Its order book stood at RM722 million as at June 30, which it said would have a positive impact on revenue generation in future operations.

"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 implementated in the administration of the group's operations," it added.

At 4.38pm, Datasonic shares were traded up 0.5 sen or 0.57% at 88 sen, with 6.07 million shares done, bringing a market capitalisation of RM1.19 billion.