LGMS Bhd announced a pre-tax profit of RM4.2024 million on the back of a turnover of RM7.840 million for the first quarter ended 31, March 2022.
In a Bursa filing, it said that the Group recorded revenue of RM7.84 million for the three-month financial period ended 31 March 2022 (“Q1 FY2022”). The revenue was mainly derived from the cyber risk prevention segment and followed by cyber risk management and compliance segment which contributed 64.13% and 24.73% respectively to the total revenue for the current financial quarter.
The Group recorded a profit before tax and profit after tax of RM4.20 million and RM3.09 million respectively for the current financial quarter under review. There are no comparative figures for the preceding quarter as this is the first interim financial report for the quarter and period ended 31 March 2022.
It said that the Group, with the planned proceeds from its IPO, will embark on an international expansion to increase our geographical footprint to broaden our customer base.
The Group expects that the increasing demand for cybersecurity services will create a lot of opportunities to the cybersecurity market and together with the expansion plan, these will contribute positively to the Group’s financial performance in the financial year ending 31 December 2022.
