AGMO HOLDINGS BERHAD recorded revenue of RM8.3 million for the quarter ended 31 December 2022 (“Q3FY23”). This was mainly derived from the mobile and web applications development segment which contributed approximately 85.3% of the total revenue.
For the quarter under review, the Group’s profit before tax stood at RM2.28 million, while its profit after tax came in at RM2.20 million.
As compared with the immediate preceding quarter ended 30 September 2022, Agmo’s revenue increased by RM2.27 million, or 37.6%, from RM6.03 million, while PAT remained relatively unchanged at RM2.20 million. This was mainly due to higher contribution from the mobile and web applications development segment, offset by higher outsource development services costs as well as the increase in administrative and other expenses.
For its segmental review, the Group’s revenue for Q3FY23 from the mobile and web applications development segment stood at RM7.08 million, or about 85.3% of the total revenue, with the segment’s profit coming in at RM3.18 million for Q3FY23.
Geographically, the Malaysian market remained as the Group’s primary revenue contributor at RM7.65 million, or 92.2% of the total revenue for Q3FY23, while revenue from the overseas market were mainly from Hong Kong and Singapore, at approximately RM0.40 million and RM0.23 million, respectively.
Mr. Tan Aik Keong, Chief Executive Officer of Agmo Holdings Berhad said: “During Q3FY23, we continued to see healthy revenue growth in all three segments of our business as compared to the preceding quarter. Since our Group’s listing, we have been focusing on executing our expansion plans, which includes among others, establishing a dedicated research and development team as well as expansion of our mobile and web development team by stepping up our recruitment efforts and forming strategic alliances with partners.
For the nine-month period ended 31 December 2022 (“9MFY23”), Agmo posted a revenue of RM19.98 million, while its PBT and PAT stood at RM6.84 million and RM6.60 million, respectively.
