Datasonic Group Berhad, a security-related integrated solutions provider has announced its fourth quarter (“4QFY20”) and full year (“FY20”) financial results today for the period ended 31 March 2020.
For FY20, Datasonic posted a revenue of RM247.5 million. This is an increase of 12.7 percent year-on-year (“YoY”) from RM219.6 million in FY19. The jump in turnover primarily stemmed from higher supply of smart cards & consumables, passports, and personalisation and maintenance services.
The Group’s FY20 profit after tax and non-controlling interest (“PATNCI” or “net profit”) surged 65.1 percent YoY to RM60.3 million versus RM36.5 million in FY19. The improvement was mainly attributed to higher revenue registered, lower financing cost and income tax rate. Net profit margin improved to 24.4 percent from 16.6 percent achieved in the previous year.
Non-Executive Chairman of Datasonic, General Mohamed Hashim bin Mohd. Ali (Rtd) said, “We are pleased to deliver a solid set of results for FY20 amid the challenging business environment. The Group halted our operations in adherence to the movement control order (“MCO”) implemented by the Government. Subsequently, we resumed our operations in 2 early May and have been fully abiding to the standard operating procedures (“SOPs”) imposed. Our production has been since been picking up gradually and we are receiving new orders from our customers.”
“We consider the challenges from the Covid-19 pandemic and the resulting MCO as a small hiccup. Given the nature of our business is mainly on contract basis, orders from customers will continue to flow in. On the other hand, Datasonic has recently secured an additional spare parts scope for the maintenance services of card personalisation centers at the National Registration Department (“NRD”) with a value of RM7.3 million, in addition to the current contract for maintenance services of card personalization centers at NRD which was awarded to Datasonic on June 3, 2019”
“Looking ahead, the outlook for Datasonic remains bright as the Group remains in the running for several large-scale national projects. We are confident and optimistic on our prospects as Datasonic will continue to leverage on our strong technical expertise, vast experience, and proven track record.” Managing Director of the Group, Dato’ Razali bin Mohd Yusof further added.
The Group’s order book stands at approximately RM575 million as of March 31. On balance sheet strength, the Group’s net gearing stood at 0.2x.
In line with its quarterly dividend payout practice, the Board has declared a fourth interim dividend of 0.5 sen per share for the quarter under review. The total dividend per share for the current financial year amounts to 3.0 sen as compared to 2.5 sen in FY19. Datasonic has been consistently paying dividends every year since its listing in 2012