Integrated technology solutions provider has reported an increase of 86.3% in net profit to RM2.1 million in the second quarter ended 30 June 2022 (2Q22) from RM1.1 million previously. The soaring of profit is attributed to accelerated project rollouts and favourable mix in line with the recovering domestic economy.
Group revenue increased 11.2% to RM36.6 million in 2Q22 from RM32.9 million a year ago, as Radiant Group implemented more technology solution projects in the retail and industrial sectors.
For the first half ended 30 June 2022 (1H22), the Group reported net profit of RM3.8 million, which jumped 19.4% from RM3.2 million in the prior year, largely attributable to a favourable mix. 1H22 revenue rose by 6.6% to RM66.2 million from RM62.1 million in 1H21 on more project implementations.
“We are certainly riding the tide of economic recovery in Malaysia, as an increasing number of retailers, food and beverage (F&B) and industrial players adopt technology solutions in the post-pandemic environment to enhance competitiveness and resilience,” Vice Chairman and Senior Executive Director of Radiant Globaltech Berhad, Paul Yap Ban Foo said.
“In fact, we are also seeing encouraging signs of gradual economic recovery in our existing regional markets of Vietnam, Thailand, and Cambodia. With the reopening of international borders and a rebound in socio-economic activities including tourism, we are intensifying our efforts to secure and implement business enhancement solutions for customers,” he added.
“We are ready to deploy tools to enable customers embrace latest technologies, including cloud-based mobile-ready portals for real-time decision-making, and offline-to-online omnichannel commerce automation to attract even more patronage in this competitive landscape,” he stressed.
Radiant Group noted all-round growth in both its Hardware and Maintenance and Software segments.
Revenue from Hardware and Maintenance increased 9.3% to RM31.4 million in 2Q22 as more new projects in the retail and industrial sectors were rolled out.
Meanwhile, the Software segment’s revenue grew 23.1% in 2Q22 to RM5.2 million from RM4.2 million the prior year, on higher sales of retail solutions and new project implementations.
“We aim to leverage on our strong track record with prominent retailers and industrial companies to reinforce our regional position,” he concluded.
