Datasonic Q1 earnings halve on lesser supply of smart cards

PETALING JAYA: Datasonic Group Bhd's net profit for the first quarter ended June 30, 2018 plunged 51% to RM7.39 million from RM15.12 million a year ago due to lesser supply of smart cards.
Revenue for the quarter fell 19% to RM48.78 million from RM60.10 million a year ago.
In a filing with Bursa Malaysia, the group said majority of its revenue was derived from the supply of consumables, passports and personalisation services.
Datasonic expects its growth prospects for the financial year ending March 31, 2019 to be satisfactory, barring any unforeseen circumstances.
"The management has continuously negotiated for better competitive pricing for purchases of the required materials and services from suppliers coupled with the ongoing implementation of cost control initiatives in the administration of the group's operations," it said.
As at June 30, 2018, the group's order book stood at RM885 million, which is expected to have a positive impact on its future revenue generation.
Its share price was trading at 76.5 sen at 3.30pm, down 6.5 sen or 7.8% on 1.72 million shares done.