REDtone posts second quarter net profit of RM398,000

18 Dec REDtone posts second quarter net profit of RM398,000

REDtone International Bhd has posted a net profit of RM398,000 and revenue of RM35.07 million for the second quarter ended Oct 31, 2015.

For the six months ended Oct 31, 2015, it posted a net profit of RM936,000 and revenue of RM58.10 million.

In a filing with Bursa Malaysia yesterday, the company said there are no comparative figures available for the period ended Oct 31, 2014 due to a change in its financial year end.

The company changed its financial year end from May 31 to April 30 on Aug 7, following the completion of the conditional take over by Berjaya Corp Bhd on May 8.

“Our prospects for the year ahead are in line with our overall directions of growth and contribution from our managed telco and managed value added services lines of business. While our data and broadband services continue to support the group’s earnings potential, we do not anticipate significant growth,” it said.

The company said that it had a good inventory of projects in hand in the current financial year but it has not been able to crystallise profits due to delays and projects put on hold.

“Our value proposition will continue to improve our position as an integrated telco services provider, especially with our fundamentals and improvement in our voice and data infrastructure, new revenue streams in our healthcare and IOT (internet of things) services and mobile services.

“The traditional voice business segment will continue to contribute to the group’s cash flow, especially with the intended improvements in our infrastructure. We will continue to maintain the revenue contribution from this sector by upgrading our existing infrastructure in the coming years,” it added.

 

Source: The Sun

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