Main Market Bound CTOS Digital Posts 64% In Profits For The Quarter

CTOS Digital Berhad which is on its way to be listed, reported a strong 64% rise in normalised net PATAMI to RM15.0 million in the second quarter ended June 30 from RM9.1 million in the previous corresponding quarter

Group revenue increased 23% to RM37.8 million from RM30.7 million while reported PAT is RM11.8 million in 2Q21 which was 56% higher than RM7.5 million in the previous corresponding quarter.

In the first half ended for the year the normalised PATAMI grew 70% to RM31.4 million versus RM18.5 million in 1H20. This was on the back of group revenue improving 17% to RM75.8 million from RM64.7 million a year ago.

CTOS Digital Group Chief Executive Officer Dennis Martin said: “Our strong growth in the most recent quarter and first half of the year testifies to our resilient business model despite the implementation of various movement control orders in Malaysia.”

“We will continue to deliver innovative digital solutions to our extensive Key Accounts customer base. This is on top of growing our commercial segment through new activations and educating and providing the tools for SMEs and individuals to make informed financial decisions.”

CTOS Digital declared a first interim single tier dividend of 0.533 sen per ordinary share in respect of the financial year ending 31 December 2021, which will be paid on 3 September 2021. The entitlement date for the dividend payment is on 6 August 2021.

The credit risk management company is slated to list on the Main Market of Bursa Malaysia Securities on 19 July 2021. At an issue price of RM1.10 per share with a market capitalisation of RM2.4 billion, it is poised to be Bursa Malaysia’s largest IPO year to date.


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