KUALA LUMPUR: OpenSys (M) Bhd recorded a net profit of RM2.95 million in the second quarter (Q2) ended June 30, 2022, up 6.7 per cent year-on-year (YoY) from RM2.77 million in the same period last year, driven by all-round growth across segments.
Revenue for the quarter rose 24.3 per cent YoY to RM18.24 million from RM14.67 million.
The company noted that banks have begun to resume procurement activities to replace aged and obsolete equipment due to compliance and customer service predicaments caused by ageing machines after nearly two years of postponement.
"This prompted the 295 per cent increase in hardware segment revenue to RM2.5 million in Q2, from RM0.6 million previously.
"Apart from that, revenue from the solutions and services segment also grew by a steady 12.2 per cent to RM15.8 million versus RM14 million previously.
"This is contributed by the company's maintenance services for customer relationship management (CRM), bill payment and top-up kiosks, cash in transit services, cheque processing, and software development services," it said in a statement.
For the first half (H1), the company's net profit rose 16.9 per cent YoY to RM5.39 million from RM4.61 million last year, while revenue was up 24.3 per cent YoY to RM35.58 million from RM28.63 million.
The company declared a third interim dividend of 40 sen per share for the financial year ending December 31, 2022.
Chief executive officer Eric Lim said the company is riding the improved market sentiment, with its CRM sales, recording better-than-expected sales for three consecutive quarters in Q4 2021, Q1 2022, and Q2 22, indicating a stable recovery of this segment.
"We are optimistic about the long-term outlook of the CRM business segment as there is potentially a huge market of another 10,000 single-function cash machines that could be replaced with dual-function CRMs.
"As the market leader with more than 80 per cent share, we are buoyant about capturing this potential demand.
"Together with the steady and trending demand for our maintenance and software services, the 'Branch Of The Future' solutions and new SmartCIT services segments, we are optimistic about our future outlook," he said.
