Datasonic Group Berhad has announced its first quarter financial results (“1QFY21”) for the period ended June 30.
For 1QFY21, the Group achieved a revenue of RM39.4 million in the current financial quarter which was 32.4 percent lower when compared to RM58.3 million in the corresponding quarter of the preceding financial year.
The decline in revenue is mainly attributed to the absence of passport supply during the quarter under review as a result of the Covid-19 and movement control order (“MCO”).
Consequently, the Group’s profit after tax and non-controlling interest (“PATNCI” or “net profit”) dropped to RM4.8 million in 1QFY21, after charging out RM2.2 million to staff bonuses for FY2020 ended 31 March 2020.
Non-Executive Chairman of Datasonic, Mohamed Hashim Mohd. Ali (Rtd) said, “During the quarter, the Group continued to supply smart cards, consumables as well as provide personalisation and maintenance services. However, our financial performance was affected by the Covid-19 and MCO and there were no delivery of passports during the period.The Group’s production of passports has resumed in early May and we have started to receive orders of passports from the Government. Malaysian Passport is time-dated and the validity is 5 years. We expect a big increase on the demand of passports when Malaysians are free to travel abroad.”
“Moving forward, we expect the prospects for the coming quarters to be brighter in line with the national economic recovery phase and new business opportunities in the areas of public security, public healthcare and also e-commerce,” Managing Director of the Group, Razali Mohd Yusof further added.
The Group’s order book stands at approximately RM551 million as of 30 June 2020. On balance sheet strength, the Group’s net gearing stood at 0.1x.
In line with its quarterly dividend payout practice, the Board has declared a first interim dividend of 0.5 sen per share for the quarter under review.
The entitlement date shall be fix on Sept 15 followed by payment date on Oct 1. Datasonic has been consistently paying dividends every year since its listing in 2012.