ITMAX System Berhad (Itmax) posted 68% increase in profit after tax and minority interest (Patami) to RM46.6 million for the cumulative 9 months (9MFYE2023) as compared to 9MFYE2022.
“This strong financial performance was attributed to the increased contribution from the video surveillance and analytics services segment, as well as the supply, installation and maintenance segment.
“The revenue of these two segments increased by 49.1% and 59.8% respectively compared to 9MFYE2022,” the group said in a statement today (Nov 21).
For the quarter under review, Itmax, which primarily involved in the business of supply, installation, and provision of public space networked systems also reported revenue, profit before tax (PBT) and Patami of RM39.1 million, RM21.5 million and RM16.3 million respectively, an increase of 26.9%, 29.4% and 32.6% respectively as compared to Q3FYE2022.
Its managing director and chief executive officer William Tan Wei Lun said the group once again delivered an impressive set of financial results.
“The demand for smart city solutions is on the rise, aligning with the nation’s shift towards digitalisation, where it plays a crucial role. Thus, we are committing more resources to develop additional AI features for our system, ensuring adaptability to these significant changes,” he said.
Tan added: “The recent expansion into Johor is just the beginning, marking the initial steps in our mission to broaden our reach across multiple states.
“Yet, our ambitions extend beyond this achievement. We are actively exploring opportunities and strategies to further enhance and expand our geographical reach.”
