Censof expects to be profitable in FY17

KUALA LUMPUR: Financial management solutions provider Censof Holdings Bhd expects to return to the black for the financial year ending March 31, 2017 (FY17) after recording a loss in the previous financial year, banking on its strong orderbook which stands at RM68 million currently.
For FY16, the group registered a net loss of RM7.08 million compared with a net profit of RM7.68 million a year ago, down to an impairment loss of RM14.6 million.
Speaking to reporters after its AGM today, group managing director Ameer Shaik Mydin said the group will continue to bid for more jobs and focus to improve its cost efficiencies to maximize the group's profitability.
Latest first-quarter results ended June 30, 2016 show that the group's net profit jumped more than 40 fold to RM35.69 million against RM838,000 previously, due to higher contribution from the national single window (NSW) segment and share of result of an associate company.