BUSINESS

KEY ALLIANCE RECORDS RM28.92 MLN NET PROFIT IN Q2

27/11/2020 12:41 AM

KUALA LUMPUR, Nov 26 -- Key Alliance Group Bhd has posted a net profit of RM28.92 million for the second quarter (Q2) ended Sept 30, 2020 compared with a net loss of RM854,000 incurred in the same quarter a year ago.

Revenue rose to RM9.05 million from RM8.0 million previously, due to higher revenue recorded by the cloud and information technology (IT) services as well as the trading of kitchen appliances segments, it said in a filing with Bursa Malaysia today.

Key Alliance said the increase in revenue for the cloud and IT segment during the COVID-19 pandemic indicated that more companies and enterprises are realising the importance of cloud and subscribing for cloud and co-location services.

“The group will continue to focus its energies on the cloud and IT segment to capitalise on the growing requirement of digitisation.

“It will also pay close attention to the market trends that are impacted by the spread of the COVID-19 pandemic, and will respond accordingly to minimise the risks and maximise opportunities,” it added.

-- BERNAMA

 


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