PETALING JAYA: Kronologi Asia Bhd’s net profit soared 35.3% to RM6.78 million for the third quarter ended Sept 30, 2019 compared with RM5.01 million in the previous corresponding period, underpinned by higher contribution from its operation in India and the acquisition of Sandz Solutions Group.
Revenue for the quarter almost doubled to RM81.66 million from RM41.98 million.
Kronologi’s nine-month net profit rose 34.8% to RM15.53 million from RM11.51 million, while revenue expanded 37.2% to RM166.23 million from RM121.17 million.
According to Kronologi’s filing with Bursa Malaysia, Singapore contributed the bulk of its revenue amounting to RM57.25 million (34.4% of total revenue), followed by the Philippines, Hong Kong and Taiwan which collectively recorded a revenue of RM64.136 million (38.58%).
By product category, enterprise data management (EDM) infra-structure technology segment continued to dominate the group’s revenue amounting to RM155.651 million or 93.63% of total revenue, with EDM managed services making up the balance.
Commenting on prospects, Kronologi said the EDM infra-structure technology business will continue to be an important business driver for the group through continuous innovation of existing and new EDM infrastructure technology solutions and opportunities.
source https://www.thesundaily.my/business/kronologi-asia-s-earnings-up-35-in-third-quarter-EY1551152
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