ITMAX’s First Nine Months PAT is Already Equivalent to 95% of 2021’s Full Year PAT

 ITMAX just announced its results for the third quarter of financial year ending 31 December 2022 (Q3FYE2022).

For Q3FYE2022, the revenue, profit before tax (PBT) and profit after tax (PAT) increased by 44.5%, 82.0% and 78.1% respectively to RM30.8 million, RM16.6 million and RM12.3 million respectively as compared to the third quarter of financial year ending 31 December 2021 (Q3FYE2021).

While for the cumulative 9 months period (9MFYE2022), the revenue, PBT and PAT were RM71.5 million, RM37.5 million and RM27.8 million respectively which translated to an increase of 29.3%, 28.9% and 26.6% respectively as compared to 9MFYE2021.

It is notable that ITMAX’s 9MFYE2022 PAT is already equivalent to 95% of 2021’s full year PAT.

ITMAX’s commendable financial performance was largely attributed to the commencement of its new contracts.

ITMAX’s shares are scheduled to float on the Main Market of Bursa Malaysia Securities on December 13, 2022.

“We are elated that our third quarter earnings are almost at par with our full year financial results for 2021. Our efforts and investments in our business have started to provide a fruitful return,” ITMAX System managing director/chief executive officer William Tan Wei Lun said.

“This achievement was also premised on our team’s innovation capabilities. Upon listing, we will increase the budget allocation for our in-house research and development for further innovation in the public space networked systems industry,” Willian Tan added.

“In line with the implementation of Malaysia Digital Economy Blueprint, digitalisation will be the next big thing. With our expansion plans in our pipeline, we believe we are well poised to seize the opportunities in this sector. Therefore, we are confident that our growth will remain steadfast in the coming years,” he concluded.

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