31/01/2023 09:57 PM

KUALA LUMPUR, Jan 31 (Bernama) -- CTOS Digital Bhd’s net profit for the financial year ended Dec 31, 2022 (FY2022) jumped 65.7 per cent to RM71.44 million from RM43.12 million a year ago on the back of higher revenue.

Meanwhile, revenue increased 27.2 per cent to RM194.78 million from RM153.17 million.

CTOS said in a filing with Bursa Malaysia that its Malaysian operations contributed a profit of RM65.10 million for the FY2022, an increase of 10.3 per cent from RM59.0 million in the previous financial year.

It said this was contributed by a 24.4 per cent increase in revenue to RM181.46 million from RM145.91 million in FY2021.

“Revenue was higher for all three types of customers (namely Key Accounts, Commercial – Malaysia and Direct-to-Consumer) driven by strong demand for CTOS Data Systems Reports, digital solutions and comprehensive portfolio review as well as growth in new CTOS Credit Manager subscribers,” it said.

CTOS said the profit from the international operations nearly doubled to RM8.58 million in the current financial year from RM4.44 million a year ago, which it attributed to an 83.5 per cent jump in revenue to RM13.32 million in the current year.

“The significant increase in revenue was mainly contributed by the higher bulk data sales to new customers,” it said.

CTOS said it expects its subsidiaries and business segments to continue with last year’s growth momentum into 2023 on the back of the continued recovery of the Malaysian and regional economies.

“The company has put in place relevant mitigation measures, and barring unforeseen circumstances, the board is optimistic that the medium to long term outlook for the group is positive with potential upside through expansion into new verticals,” it added.

CTOS also declared a fourth single-tier interim dividend of 0.36 sen per share for FY2022, which will be paid on March 15, 2023, with the entitlement date for the dividend payment on Feb 21, 2023.




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