KUALA LUMPUR (Feb 25): Radiant Globaltech Bhd net profit for the fourth quarter ended Dec 31, 2019 jumped to RM2.01 million from RM101,000 a year earlier on higher revenue, derived mainly from its hardware and maintenance segment.

In a bourse filing Feb 24, the firm said revenue for the quarter surged 107% to RM29.76 million versus RM14.35 million previously.

Earnings per share rose to 0.38 sen from 0.02 sen.

For the financial year ended Dec 31, Radiant posted net profit RM5.54 million versus RM2.99 million, on the back of revenue RM81.70 million against RM61.88 million a year earlier.

On its prospects, Radiant said it maintains a three-pronged strategy of increasing its range of products and services, entering new market segments and expanding its geographical footprint.

“The Group plans to diversify its customer base to different retail customer types such as shopping centre retailers, airport retailers and utility retailers.

“The Group also intends to grow its clientele to further penetrate food and beverage (F&B) retail chains, and serve manufacturing and industrial (non-retail) corporations in the Southeast Asia region.

“We are mindful of the rapid technology advancement and we are witnessing more home-grown chains switching to digital technologies to boost operational efficiency and improve quality of products.

“Being able to provide the full scale of services from front-end retail hardware equipment to cloud-based back-end and mobile retail services, we are well positioned to capture these opportunities,” it said.