MyEG posts RM56.1m net profit in Q4, recommends 1.4 sen final dividend

PETALING JAYA: MyEG Services Bhd posted a net profit of RM56.1 million in the fourth quarter (Q4) of its consolidated results for the financial period ended June 30 mainly attributed to concession related services and commercial services.
The financial year end of the group has been changed from June 30 to Sept 30. As such, the next set of audited financial statements shall be for 15 months from July 1, 2017 to Sept 30, 2018. There will be no comparative financial information available for the quarter ended June 30, 2018.
In a Bursa Malaysia filing, the group said it has recommended a final dividend of 1.4 sen per ordinary share in respect of the financial year ending Sept 30, 2018, subject to shareholders' approval at its AGM in March next year.
During the quarter, the group posted a revenue of RM107.44 million. For the full-year period ended June 30, it registered a net profit of RM226.5 million, with a revenue of RM426.24 million.
On its prospects, MyEG said the continued growth in volume of its existing services, primarily the foreign workers' permits as well as the online renewal of foreign workers' insurance, are expected to contribute to its revenue and net profit for the financial year ending Sept 30 (FY2019).
Moving forward, MyEG said it will continue to introduce innovative commercial services which is expected to contribute to its growth for FY2019 onwards.
MyEG gained one sen or 0.68% to RM1.49 with 131.8 million shares traded, making it the second most active counter on Bursa Malaysia today.