Revenue Group in its 2022 financial report declared its highest-ever revenue of RM97.7 million which is an increase of 13.2% year-on-year (“YoY”) from RM86.3 million the company attained a year ago. The group iterated that the improvement was mainly driven by the electronic transaction processing segment stemming from higher transaction processing value due to the wider adoption of e-commerce transactions.
Turnover from the ETP division rose 82.3% YoY to RM32.4 million in FY22 versus RM17.8 million achieved in FY21. In addition, sales from the solution & services segment in the year under review grew 24.8% YoY to RM15.7 million from RM12.6 million in the preceding year as well, which further contributed to the Group’s top-line growth.
Accordingly, the group’s FY22 profit after tax and non-controlling interest rose 19.5% YoY to its all-time high of RM13.4 million as compared to the previous record RM11.2 million in FY21.
Moving forward Revenue said it will continue to enhance its e-payment network by focusing on growing the ETP and digital payment services.
For the current quarter under review, the Group recorded a revenue of RM28.5 million as compared to RM17.6 million in 4QFY21, which represented an increase of 62.6% YoY. This improvement, however, was not reflected in the bottom line as the Group posted a net profit of RM0.6 million for 4QFY22. This was predominately owing to the increase in administrative expenses stemming from higher staff cost, provision for unrealized foreign exchange loss, additional provision for doubtful debts, IT infrastructure cost as well as depreciation.
Revenue’s balance sheet remained healthy in a net cash position, with net cash per share of 7.8 sen as at 30 June 2022 backed by net assets of RM0.33 per share.
