Integrated technology solutions provider Radiant Globaltech Berhad, rode on the gradual retail and industrial recovery to report improved net profit of RM3.2 million for the six months period ended in June from a net loss of RM0.5 million a year ago, as revenue grew 134.2% to RM62.1 million.
Radiant Group, which provides hardware and software to industrial companies and retail players such as convenience store and departmental store chains, reported 160.0% higher revenue from the Hardware and Maintenance segment to RM55.5 million in 1H21. With the balance of RM6.6 million came from the Software segment which grew 27.9% year-on-year.
According to its CEO, the retail sector recorded higher activity in terms of higher hardware sales, and the steady income coming from the software segment. The pandemic had also accelerated demand for digitalisation, as businesses were striving for greater efficiency, safety, and reduced reliance on manual processes.
Radiant has solutions capable to support e-commerce platforms, such as its AX B2B Platform, PosPlus F&B software and ARMS POS Retail Management software. The company benefited greatly from the pandemic and the lockdown, as these retailers look to pivot and use technology to drive their business.
For the second quarter, the group recorded net profit of RM1.1 million compared to a net loss of RM0.5 million previously. This was driven by a 165.5% growth in 2Q21 revenue to RM32.9 million, on higher contribution from the Hardware and Maintenance, as well as Software segments.
It has been a busy year for the group as well with acquisitions, Radiant took an 80% stake in Grand-Flo Spritvest Sdn Bhd in November 2020 and 70% stake in ARMS Software International Sdn Bhd in May 2021.
Currently Radian provides its products to some big retail brands like Parkson, 99 Speedmart, 7-Eleven, Giant, AEON Big, Cold Storage, Guardia and Manjaku Baby Mall.