OCK Group Bhd), Malaysia’s telecommunication network solutions provider, today announced its financial results for the first quarter ended 31 March 2022 (“Q1FYE2022”) with revenue growth of 12.4% to RM127.4 million in contrast to Q1FYE2021.
In a statement, it said that In tandem with the revenue growth, OCK recorded overall increases across the board in its profit before tax (“PBT”), profit after tax (“PAT”), and profit after tax and minority interests (“PATAMI”) by 15.6%, 9.0% and 3.2%, year on year, respectively to RM11.3 million, RM9.1 million and RM7.4 million.
Higher contributions from green energy power solutions, trading, and telecommunication network services were credited to be the primary force behind the growth. The Group’s balance sheet remains resilient with a net gearing ratio of 0.82 times.
OCK group managing director Sam Ooi Chin Khoon commented, “OCK is excited to mark its first quarter on a strong note with overall improvements across the financials. With the current pandemic slated to recover and transit towards the endemic phase, we expect further upside for our telecommunication network services as well as renewable energy segment which is evident by our strong results posted for the first quarter.
Along with the uplifting of travel bans, we foresee this will add to our advantage and open up possibilities in the Southern East Asian region to grow our reach and presence. Lastly, the Group remains committed in supporting the local state governments to improve connectivity through 5G as well as achieve carbon neutral by 2050. We will play our part by growing our business segments in both telecommunications and renewables.”
