Friday 29 Mar 2024
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KUALA LUMPUR (Feb 25): Shares in Radiant Globaltech Bhd rose 6.89% at mid-morning today after the group reported that its net profit for the fourth quarter ended Dec 31, 2019 (4QFY19) jumped to RM2.01 million from RM101,000 a year earlier.

At 11.04am, Radiant rose 2 sen to 31 sen, valuing the group at RM162.81 million.

In a bourse filing Feb 24, the firm said the improved 4QFY19 net profit was due to  higher revenue, derived mainly from its hardware and maintenance segment.

Revenue for the quarter surged 107% year-on-year to RM29.76 million from RM14.35 million.

Earnings per share rose to 0.38 sen from 0.02 sen previously.

For the financial year ended Dec 31, Radiant posted a net profit of RM5.54 million versus RM2.99 million in the year-ago period, on the back of higher revenue of 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 the 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.

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