The telecommunications network solutions provider has announced its financial results for the third quarter ended 30 September 2022 (3Q2022)
For the quarter under review, OCK reported its highest ever quarterly revenue with a significant growth of 36.6% to RM162.1 million as opposed to RM118.7 million in the same quarter of the preceding year.
Consequently, its profit before tax (PBT), profit after tax (PAT) and profit after tax and minority interest (PATAMI) increased by 51.2%, 40.6%, and 64.8%, year-on-year, to RM12.9 million, RM9.2 million and RM8.2 million respectively.
On a cumulative 9 months basis, the company registered improvement across the board with revenue, PBT, PAT and PATAMI increasing by 23.9%, 27.0%, 21.7% and 23.9% to RM431.7 million, RM35.6 million, RM27.6 million and RM23.7 million respectively.
The stronger financials were largely accredited to the higher contributions from the telecommunications network services in line with the ongoing roll out of the 4G and 5G infrastructures.
“Continuing on our pursuit to further grow OCK, I am humbled to inform that the Group managed to achieve an all-time high for our (quarterly) revenue. Our cumulative 9 months’ PATAMI is already more than 93% of 2021’s full year PATAMI,” OCK group managing director Sam Ooi Chin Khoon said.
“This is significant for us as it shows that we are aggressively supporting the roll out of the 5G infrastructure, benching on our expertise. As it stands now, we do expect 2022 to be a good year for us, backed by our current order book of over RM410 million which is a reflection of the thriving demand for more telecommunications infrastructures,” he added.
“OCK has also achieved its internal target for the telecommunications tower portfolio which now stands at over 5,000 towers. Along with the industrial prospects and recent achievements by OCK, we are anticipating stronger growth in the coming future thus we have made the necessary preparations to be able to further capitalise on this growth opportunity moving ahead,” he concluded.
