Ace Market Listed Daythree Digital Reports Steady FY23 Earnings

Daythree Digital Berhad announce its year-end financial results for financial year end 31 December 2023 recording a revenue of RM89.9 million, marking a 38.1% increase over last year’s total of RM65.1 million.

Profit before Taxation was at RM10.8 million, excluding the one-off listing expenses of RM1.2 million, the adjusted PBT stood at RM12 million. This represents a significant increase from FY2022’s adjusted PBT of RM9.5 million representing a growth in adjusted PBT of 26.3%

Profit After Taxation saw an increase of 22.6% from RM6.2 million in FYE2022 to RM7.6 million in FYE2023. In January 2023, Daythree received approval in principle from MIDA for the tax exemption of an additional five-year term to 15 February 2027. This exemption however will only apply upon the gazetting of the relevant tax exemption provisions, and until that time, statutory taxation remains in effect.

The group attributes the growth momentum to Malaysia’s digital economy aspirations and the government’s supportive policies, which have fostered a conducive environment for the GBS sector. Malaysia’s appeal as a GBS destination is further enhanced by its cost-effectiveness and minimal natural disaster risks, providing a stable platform for businesses.

The Energy & Utilities sector remains a significant contributor, with RM39.9 million in revenue, embodying the Group’s diversified strength across various segments including RM16.9 million from Fintech & Financial services, RM15.0 million from Telecommunications & Media, RM9.2 million from E-commerce & Retail, RM5.4 million from Travel & Hospitality and RM3.5 million from other sectors.

As of 21 February 2024, Daythree’s share price stands at RM0.355, indicating a market capitalisation of RM170.4 million.

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