KUALA LUMPUR (June 25): Redtone International Bhd’s net profit for the fourth quarter ended April 30, 2019 (4QFY19) rose 53% to RM4.8 million, from RM3.13 million in the previous year, thanks to higher revenue contributions from its managed telecommunication network services (MTNS) segment.
Earnings per share improved to 63 sen versus 41 sen per share previously.
In a filing today, the group said revenue during the quarter rose by 132% to RM73.38 million, against RM31.61 million a year ago.
The broadband services company recently changed its financial year end from April 30 to June 30, to coincide with the financial year of its parent company, Berjaya Corp Bhd.
For the 12-month period, net profit rose 157% to RM15.36 million versus RM5.97 million previously, as revenue increased 52% to RM178.93 million, compared with RM118.08 million previously.
Moving forward, the group is of the view that the operating performance for the remaining period of the financial year will remain challenging and competitive.
The group will continue to focus on measures to improve operational efficiencies and to improve profitability in its core businesses, the filing added.
“Barring any unforeseen circumstances, the board expects higher contribution from its MTNS segment going forward, while data services for enterprise market will continue to contribute to the growth of telecommunications services segment,” Redtone said.