Kronologi Asia FY22 net profit surges 16-fold to RM23.77m

Kronologi Asia FY22 net profit surges 16-fold to RM23.77m
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KUALA LUMPUR (March 29): Kronologi Asia Bhd's net profit for the financial year ended Jan 31, 2022 (FY22) jumped 16-fold to RM23.77 million versus RM1.42 million a year earlier, on the back of higher revenue of RM308.01 million against RM265.49 million.

Earnings per share for the year rose to 3.84 sen from 0.28 sen.

For the fourth quarter ended Jan 31, Kronologi’s net profit rose 15% year-on-year to RM6.59 million from RM5.72 million on revenue of RM99.53 million versus RM98.81 million previously.

The company did not declare any dividend.

Reviewing its performance, Kronologi said for FY22, the majority of the group’s revenue was recognised from Singapore and the Philippines, amounting to RM198.89 million (64.57% of total revenue), followed by China, which recorded RM65.57 million (21.29% of total revenue).

It said by product category, the enterprise data management (EDM) infrastructure technology segment continued to dominate the group’s revenue, amounting to RM255.341 million or 82.9% of total revenue, with EDM as-a-service making up the balance.

On its prospects, Kronologi said the acquisition and integration of its China associate in FY22 had been transformational.

It said the enlarged group has enabled greater operational synergies which have led to record growth in customers, revenue, and profitability.

“Coupled with increasing demand for our as-a-service business by new and existing customers, Kronologi is in a position to continue accelerating our business through increased investments in our services, delivering on new and exciting cloud and hybrid services and offerings to our customers.

“While we take cognisance of current Covid-19 situation, we remain optimistic that these will drive the group’s growth in FY23 and well into the digital era where 'Data is the New Gold',” it said,

Kronologi chief executive officer Edmond Tay said the company had made significant progress in serving its customers and generating substantial growth,

“The strength of our core business has enabled us to accelerate our investments toward enterprise deliverables — transforming the way we deliver our as-a-service offerings and supporting an expanding number of domain specific Cloud services,” he said.

Shares of Kronologi last closed up 1.5 sen or 2.73% at 56.5 sen, giving it a market capitalsiation of RM374.79 million.