REDtone registers RM1.05m net profit in third quarter

21 May 2020 / 22:43 H.

PETALING JAYA: REDtone International Bhd posted a net profit of RM1.05 million on revenue of RM37.56 million in the third quarter ended March 31, 2020.

There were no comparative figures for the previous year’s corresponding quarter due to the change of financial year end.

For the nine month period, it posted a net profit of RM14.8 million against a revenue of RM138.59 million mainly contributed by its managed telecommunication network services (MTNS) segment.

On prospects, it said the government’s impending plan to change the spectrum allocation policy may affect the business performance of the group going forward.

“The board is closely monitoring the development. The financial impact is RM3.08 million per quarter and the spectrum value will be amortised until December 2021,” REDtone said.

The group is of the view that the operating performance for the remaining quarter of the financial year will remain competitive. The group will continue to focus on measures to improve operational efficiencies and profitability in its core businesses.

“The board expects the contributions from its MTNS segment will remain significant while data services for enterprise market would continue to be the main focus in extracting growth from recurring businesses,” added REDtone.

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