SNS Network Group registered an increase of revenue of 17.5% to RM348.84 million in 3Q FY2023 compared with RM296.93 million in 2Q FY2023. For the quarter under review, the group saw a 25.7% gain in gross profit to RM29.44 million compared with GP of RM23.43 million in 2Q FY2023 while profit before tax (“PBT”) increased 29.9% to RM15.28 million compared with PBT of RM11.76 million.
There are no comparative figures on a year-over-year basis as SNS was listed on the ACE Market of Bursa Malaysia on 2 September 2022.
Managing Director of SNS, Ko Yun Hung, said, “We are seeing continuous growth in revenue and profit as well as margins supported by growing demand in the ICT industry by the commercial sector due to the market’s digital transformation initiatives as well as the implementation of government’s ICT initiatives as part of the digitalisation drive in schools. In fact, more and more organizations will continue to infuse digital technology into every process and function to boost their productivity.
The group is currently fulfilling projects secured under the PerantiSiswa Keluarga Malaysia, a programme aimed at bridging the digital gap and enhancing the learning experience among tertiary students from the B40 group. It is also focused on expanding the device-as-a-service (“DaaS”) subscription-based service as announced prior to the listing given the growth in the domestic DaaS market, which saw a CAGR of 39.04% from 2018 when the market was valued at RM139.95 million to 2021, when the market was valued at RM376.17 million.
SNS has a strong cash position at RM89.24 million and is looking to expand through its online, physical store, and commercial channels offering products, services, and solutions.
The Group’s board of directors has also approved and declared a first interim single-tier dividend of 0.25 Sen per ordinary share amounting to RM4,031,949 in respect of the financial year ending 31 January 2023, to be paid on 18 January 2023. The entitlement date is 3 January 2023.
