Newly listed AGMO Holdings reported its fourth quarter and full financial year capping the year with revenue jumping 59.5% to RM26.36 million as compared to RM16.53 million in 2022 while profit after tax was RM7.25 million an increase of 7.6% from RM6.74 million last year.
The development of mobile and web applications segment remained the Group’s largest revenue contributor, accounting for RM21.34 million or 81.0% of the total revenue for FY2023, with a segment profit of RM9.30 million for FY2023. Provision of subscription, hosting, technical support and maintenance services segment was the second highest at RM3.90 million (14.8%) of the Group’s total revenue, with a segment profit of RM1.95 million for the period under review.
Commenting on the Group’s performance, Mr. Tan Aik Keong, Chief Executive Officer of Agmo Holdings Berhad said: “Our latest full-year financial result is commendable and a testament to our agility and capability to execute various digitalisation projects, domestically and regionally, driven by the rise of the digital economic supply chain.
Meanwhile, the Group has fortified its presence in Malaysia which remained the primary revenue contributor, whereby revenue grew by an impressive RM9.10 million year-on-year, demonstrating its ability to capitalise on domestic opportunities. Revenue from the Thailand market increased by RM0.88 million from the prior year as Agmo continues to tap into regional digitalisation projects.
Agmo said that supported by the utilisation of IPO proceeds as well as ongoing and other pipeline collaboration with its strategic partners will enhance its capacity to deliver exceptional products and services to its customers.
