PETALING JAYA: REDtone International Bhd’s net profit for the three months ended April 30, 2019 jumped 53.31% to RM4.8 million from RM3.13 million a year ago driven by higher contribution from the managed telecommunication network services (MTNS) segment.
In a filing with Bursa Malaysia, the group said that its revenue for the three-month period more than doubled to RM73.38 million from RM31.61 million a year ago.
For the 12-month period ended April 30, 2019, REDtone’s net profit soared 157.36% to RM15.36 million from RM5.97 million a year ago while revenue rose 51.53% to RM178.93 million from RM118.08 million a year ago.
The group said that the higher MTNS revenue resulted in RM4.75 million MTNS segment profit, which was a big improvement from the RM7.49 million segment loss reported a year ago. The segment reported a revenue of RM94.44 million during the period.
The group expects the operating performance for the remaining period of the financial year ending June 30, 2019 to remain challenging and competitive, and will continue to focus on measures to improve operational efficiencies and profitability in its core businesses.
“The board expects higher contribution from MTNS while data services for enterprise market will continue to contribute to the growth of telecommunications services,” it said.
