KUALA LUMPUR: Censof Holding Bhd's (Censof) net profit increased 80.3 per cent to RM2.08 million in the second quarter (Q2) ended September 30, 2023 (Q2FY24) from RM1.15 million a year ago on the back of higher revenue.
Revenue for the quarter rose 19.6 per cent year-on-year (YoY) to RM25.33 million from RM21.18 million a year ago, supported by all its business divisions, except its financial management system (FMS)- commercial and small and medium enterprise segment which was imapcted by lesser new projects secured in financial year 2024.
For the cumulative six months (6M) period, net profit declined to RM957,000 from RM1.44 million in the previous year.
The revenue for this period increased 10.3 per cent to RM45.75 million from RM41.48 million in the same period last year.
"The FMS - G remains as our core business, posting a commendable revenue growth of 23.9 per cent given the increase in standard accounting for government agencies maintenance and our government resource planning solutions, with the addition of Companies Commission of Malaysia, Amanah Raya Berhad, and Pengurusan Air Pahang Berhad to our clientele base," Censof group managing director Ameer Shaik Mydin said in a statement.
He also said that the new projects obtained under the Unit Trust Management System for Pelaburan Hartanah Berhad (Malaysia) and the Wealth Management System for Bank QNB and CIMB Niaga in Indonesia have greatly enhanced the warehouse management system division.
