KUALA LUMPUR: SNS Network Technology Bhd saw an uptick in its net profit by 2.4 per cent to RM9.02 million in the second quarter ended July 31, 2023 (2QFY24) versus RM8.81 million a year ago on the back of higher revenue.
Its revenue grew 12.1 per cent to RM332.88 million from RM296.93 million in the same period last year due to increase in sales of ICT products through the commercial channel.
Provision of device repair and related services, as well as broadband services, contributed an additional RM4.25 million to its revenue.
On a geographical basis, the company noted that Malaysia continued to be the mainstay, generating RM321.35 million in revenue.
Singapore contributed RM6.26 million and Hong King contributed RM0.45 million.
Other markets including Australia, Brunei, Indonesia, Maldives and Vietnam rounded off the remaining RM4.82 million.
For the six-month period, the company's net profit rose to RM16.91 million from RM15 million a year prior while revenue grew to RM622.72 million versus RM545.09 million.
SNS managing director Ko Yun Hang said the ICT sector remains a strong pillar of both economic and social infrastructure.
"As businesses increasingly opt for flexibility and cost-efficiency through device-as-a-service (DaaS) subscriptions, we are focusing on expanding this service.
"This will serve as a catalyst in solidifying our existing customer relationships while attracting new clients," he said in a statement.
The company remains optimistic about the prospects of the ICT industry, owing to a sustained demand for ICT products and a strong, expanding customer base.
It plans to leverage on government initiatives aimed at digital transformation and to support digital education in schools.
SNS announced a second interim single-tier dividend of 25 sen per ordinary share amounting to RM4.03 million in respect of the financial year ending Jan 31, 2024 which will be paid on Nov 24.
