CTOS Digital Berhad net profit increases 48.1% to RM46.6 million in the nine months ended September 2021 compared to RM31.4 million in the corresponding period a year ago, the growth point to the groups business resilience despite the pandemic.
Its group revenue grew to RM114.4 million, 15.8% higher than RM98.8 million in the preceding year, on the back of strong demand from all three customer segments (Key Accounts, Commercial and Direct-to-Consumer). The reported PATAMI grew 18.6% to RM31.2 million, versus RM26.3 million.
CTOS Digital’s share of associates’ profit amounted to RM5.6 million, of which the majority was contributed by Business Online Public Company Limited (BOL), the leading commercial credit information and risk management provider in Thailand. CTOS Digital currently holds 22.65% stake in BOL.
In the same third quarter, the group’s normalised PATAMI jumped 17.2% to RM15.2 million from RM13.0 million recorded previously, as revenue grew 13.4% to RM38.6 million in 3Q21 from RM34.0 million a year ago. Reported PATAMI stood at RM11.7 million, compared to RM10.7 million in 3Q20.
On the extraordinary result, CEO Dennis Martin said: “Our Key Accounts and Commercial segments remained resilient with commendable growth despite of multiple lockdowns throughout the year. Notably, we achieved substantial traction in our Direct-to-Consumer segment, where revenue nearly doubled in 9M21 compared to the year before. We look to extend this growth trajectory by extending our on-going financial literacy programs to increase customer adoption of relevant products.
Adding to that Dennis anticipates with the reopening of various economic sectors, the group will see a rebound in customer take-up for its solutions, similar to previous post-restriction periods.
CTOS Digital declared a second interim single tier dividend of 0.32 sen per ordinary share in respect of the financial year ending 31 December 2021 (FY2021), which will be paid on 10 December 2021. The entitlement date for the dividend payment is on 12 November 2021.
