PETALING JAYA: Datasonic Group Bhd posted a 6% increase in net profit to RM12.27 million for its fourth quarter ended March 31, from RM11.63 million reported previously, on lower financing costs and income tax rates.
Revenue for the period stood at RM50.72 million, a 10.6% decline from RM56.72 million reported previously.
For the quarter, the group has declared a fourth interim single-tier dividend of 0.5 sen which brings its total payout for the financial year to 3 sen per share.
For the full financial year, its net profit rose 65.1% to RM60.32 from RM36.53 million recorded in FY19.
Revenue for the year stood at RM247.54 million, a 12.7% increase from RM219.56 million registered previously.
According to its Bursa filing, the implementation of the movement control order (MCO) is expected to have an impact on the group’s operations, particularly with the issue of international travel.
Datasonic stated that it has taken necessary measures to address the abnormal challenges in the business environment and it expects the prospect for the financial year ending March 31, 2021 to be challenging.
Looking ahead, managing directorDatuk Razali Mohd Yusof said the outlook for the group remains bright as it remains in the running for several large-scale national projects.
source https://www.thesundaily.my/business/datasonic-sees-6-net-profit-growth-despite-lower-topline-NY2625593
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