Datasonic’s Q1 net profit up 68% on higher revenue

PETALING JAYA: Datasonic Group Bhd saw its net profit in the first quarter ended June 30, 2016 (Q1FY17) surge 67.7% to RM20.8 million, from RM12.4 million in the same period last year, due to higher revenue.
The group’s revenue increased 39.9% to RM76.08 million, compared with RM54.36 million in the previous corresponding quarter.
In a filing with Bursa Malaysia last Friday, the ICT solutions provider said RM60 million of the group’s revenue in the current quarter is derived from the supply of smart cards, datapages, consumables, component for smart cards and personalisation solutions.
On its outlook, Datasonic said the prospects for growth are expected to be satisfactory in the financial year ending March 31, 2017 (FY17).
For FY17, the group has declared a first interim single tier tax-exempt dividend of 1.00 sen per share, amounting to RM13.50 million based on the issued and paid-up share capital as at June 30, 2016.
The entitlement date is Sept 14, 2016 and payable on Sept 28, 2016.