KUALA LUMPUR (May 31): Datasonic Group Bhd for the fourth quarter ended March 31, 2022 (4QFY22) swung back to a net profit of RM13.37 million versus a net loss of RM5.63 million a year ago, boosted by higher revenue.

Revenue for the quarter more than doubled to RM54.34 million from RM25.82 million, the group’s bourse filing on Tuesday (May 31) showed.

The group said RM46.1 million of its revenue was derived from the supply of smart cards, passports and personalisation services, which was higher than the RM18.07 million it earned in 4QFY21, as a result of higher demand.

The current quarter also saw a reversal of excess accrued operations costs of RM4.5 million, it said.

Datasonic declared a fourth interim dividend of 0.25 sen per share, which is to be paid at a date to be fixed.

For its full FY22, Datasonic’s net profit jumped 40.29% to RM10.24 million from RM7.3 million, despite full-year revenue slipping 1.43% to RM136.43 million from RM138.41 million.

In terms of prospects, Datasonic said it is optimistic that its financial performance will be better in FY23, on the back of expected improvement in revenue contributions from the government, in particular from the sales and delivery of passport booklets and identity documents.

“In addition, various programmes and initiatives have been pursued to support the group’s diversification of its revenue stream, including new business opportunities in the area of digital identification and e-KYC, as well as e-financial services,” it added.

Shares in Datasonic finished half a sen or 0.9% at 56 sen on Tuesday, giving the group a market capitalisation of RM1.66 billion.