26 Jun REDtone’s Q4 profit rises 24.5%
REDtone International Bhd’s net profit soared 24.5% to RM3.13 million for the fourth quarter ended April 30, 2018 compared with RM2.52 million in the previous corresponding period, due to higher non-controlling interests.
Revenue, however, declined 23.6% to RM31.61 million from RM41.39 million, as managed telecommunication network services segment contributed lower revenue in line with lesser project activities.
For the full-year period, REDtone returned to the black registering a net profit of RM6.19 million versus a net loss of RM5.37 million a year ago, while revenue dropped 24.5% to RM118.24 million from RM156.55 million.
The group expects its operating performance for the next financial year ending April 30, 2019 to remain challenging and competitive, but it will continue to focus on measures to improve operational efficiencies and to improve profitability in its core businesses.
“Barring any unforeseen circumstances, the board expects significant contribution from its managed telecommunications network services segment while data services for enterprise market would continue to lead the growth of telecommunications services segment.”
Source: The Sun